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Astika Holdings Inc.
Florida
274601693
Level 1
725 Rosebank Road
Avondale
Auckland
1348
New Zealand
(64)
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<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'><u>NOTE 1 - DESCRIPTION OF BUSINESS</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>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.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;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-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>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.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'><u>NOTE 2- GOING CONCERN ANALYSIS AND MANAGEMENT PLANS</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>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. The Company has an accumulated deficit and a working capital deficit at December 31, 2018. 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. 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.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>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.  </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;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-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>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. The accompanying financial statements do not include any adjustments that might result from the outcome of these mentioned uncertainties.</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'><u>NOTE 3 – SIGNIFICANT ACCOUNTING POLICIES</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'> </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>Basis of Presentation</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'>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”).</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'><i>Cash and Cash Equivalents</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'>The Company considers all highly liquid debt instruments with original maturities of three months or less to be cash equivalents. At December 31, 2018 and 2017, the Company has no cash equivalents.</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'><i>Use of Estimates</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'>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.</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'><i>Basic and diluted loss per share</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'>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 shares of common stock 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 shares of common stock outstanding during the period. The Company had net losses as of December 31, 2018 and 2017, as such, the diluted earnings per share excludes all dilutive potential shares because their effect is anti-dilutive.</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'><i>Stock-Based Compensation</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'>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.</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'><i>Income Taxes</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'>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.</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'><i>Accounting for Derivative Instruments</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'>The Company accounts for derivative instruments in accordance with ASC Topic 815, “Derivatives and Hedging” (ASC 815) and all derivative instruments are reflected as either assets or liabilities at fair value in the balance sheet.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>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.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>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:</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'><i>Level 1 - </i>Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'><i>Level 2 - </i>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.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'><i>Level 3 </i>- 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.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>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.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;line-height:normal'><i>Recently Issued Accounting Standards</i></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>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-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;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-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>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 adoption of ASU 2017-09 has no material impact on the Company’s financial statement presentation or disclosures.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;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-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>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 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 adoption of this guidance has no material impact on the Company’s financial statement presentation or disclosures.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;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 June 2018, the FASB issued ASU 2018-07, “Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. ASU 2018-07 expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. ASU 2018-07 also clarifies that Topic 718 does not apply to share-based payments used to effectively provide (1) financing to the issuer or (2) awards granted in conjunction with selling goods or services to customers as part of a contract accounted for under <i>Revenue from Contracts with</i> Customers (Topic 606). ASU 2018-07 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The Company will adopt the provisions of ASU 2018-07 in the quarter beginning January 1, 2019. The adoption of ASU 2018-07 is not expected to have a material impact on the Company’s financial statement presentation or disclosures.</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'>In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (“Topic 820”): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). The ASU modifies the disclosure requirements in Topic 820, Fair Value Measurement, by removing certain disclosure requirements related to the fair value hierarchy, modifying existing disclosure requirements related to measurement uncertainty and adding new disclosure requirements, such as disclosing the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period and disclosing the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. This ASU is effective for public companies for annual reporting periods and interim periods within those annual periods beginning after December 15, 2019. The Company is currently evaluating this guidance and the impact of this update on its consolidated financial statements.</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;background:white'>Management does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying financial statements.</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>Basis of Presentation</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'>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”).</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'><i>Cash and Cash Equivalents</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'>The Company considers all highly liquid debt instruments with original maturities of three months or less to be cash equivalents. At December 31, 2018 and 2017, the Company has no cash equivalents.</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'><i>Use of Estimates</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'>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.</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>Basic and diluted loss per share</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'>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 shares of common stock 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 shares of common stock outstanding during the period. The Company had net losses as of December 31, 2018 and 2017, as such, the diluted earnings per share excludes all dilutive potential shares because their effect is anti-dilutive.</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'><i>Stock-Based Compensation</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'>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.</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'><i>Income Taxes</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'>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.</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'><i>Accounting for Derivative Instruments</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'>The Company accounts for derivative instruments in accordance with ASC Topic 815, “Derivatives and Hedging” (ASC 815) and all derivative instruments are reflected as either assets or liabilities at fair value in the balance sheet.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>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.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>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:</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'><i>Level 1 - </i>Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'><i>Level 2 - </i>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.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'><i>Level 3 </i>- 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.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>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.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;line-height:normal'><i>Recently Issued Accounting Standards</i></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>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-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;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-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>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 adoption of ASU 2017-09 has no material impact on the Company’s financial statement presentation or disclosures.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;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-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>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 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 adoption of this guidance has no material impact on the Company’s financial statement presentation or disclosures.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;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 June 2018, the FASB issued ASU 2018-07, “Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. ASU 2018-07 expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. ASU 2018-07 also clarifies that Topic 718 does not apply to share-based payments used to effectively provide (1) financing to the issuer or (2) awards granted in conjunction with selling goods or services to customers as part of a contract accounted for under <i>Revenue from Contracts with</i> Customers (Topic 606). ASU 2018-07 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The Company will adopt the provisions of ASU 2018-07 in the quarter beginning January 1, 2019. The adoption of ASU 2018-07 is not expected to have a material impact on the Company’s financial statement presentation or disclosures.</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'>In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (“Topic 820”): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). The ASU modifies the disclosure requirements in Topic 820, Fair Value Measurement, by removing certain disclosure requirements related to the fair value hierarchy, modifying existing disclosure requirements related to measurement uncertainty and adding new disclosure requirements, such as disclosing the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period and disclosing the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. This ASU is effective for public companies for annual reporting periods and interim periods within those annual periods beginning after December 15, 2019. The Company is currently evaluating this guidance and the impact of this update on its consolidated financial statements.</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;background:white'>Management does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying financial statements.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'><u>NOTE 4 - CONVERTIBLE NOTE PAYABLE</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>During October 2014, the Company issued an 8.0% convertible debenture for $31,500 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. </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On March 21, 2017, the Company issued 572,476 shares of common stock in the conversion of $2,000 principal and $834 in interest due to LG Capital Funding, LLC at $0.00495 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On June 8, 2017, the Company issued 603,038 shares of common stock in the conversion of $700 principal and $328 in interest due to LG Capital Funding, LLC at $0.00171 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;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-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On June 13, 2017, the Company issued 638,926 shares of common stock in the conversion of $740 principal and $350 in interest due to LG Capital Funding, LLC at $0.00171 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On June 27, 2017, the Company issued 670,334 shares of common stock in the conversion of $1,245 principal and $598 in interest due to LG Capital Funding, LLC at $0.00275 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On July 18, 2017, the Company issued 701,519 shares of common stock in the conversion of $800 principal and $396 in interest due to LG Capital Funding, LLC at $0.00171 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On July 24, 2017, the Company issued 735,903 shares of common stock in the conversion of $810 principal and $404 in interest due to LG Capital Funding, LLC at $0.00165 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On August 3, 2017, the Company issued 775,636 shares of common stock in the conversion of $850 principal and $430 in interest due to LG Capital Funding, LLC at $0.00165 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On August 18, 2017, the Company issued 812,860 shares of common stock in the conversion of $885 principal and $456 in interest due to LG Capital Funding, LLC at $0.00165 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On August 25, 2017, the Company issued 852,841 shares of common stock in the conversion of $1,080 principal and $562 in interest due to LG Capital Funding, LLC at $0.00193 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On August 31, 2017, the Company issued 897,810 shares of common stock in the conversion of $810 principal and $424 in interest due to LG Capital Funding, LLC at $0.00138 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On September 13, 2017, the Company issued 941,854 shares of common stock in the conversion of $845 principal and $450 in interest due to LG Capital Funding, LLC at $0.00138 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On September 20, 2017, the Company issued 989,403 shares of common stock in the conversion of $885 principal and $475 in interest due to LG Capital Funding, LLC at $0.00138 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On October <font style=',serif'>3</font>, 2017, the Company issued 1,038,870 shares of common stock in the conversion of $1,035 principal and $565 in interest due to LG Capital Funding, LLC at $0.00154 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On October 16, 2017, the Company issued 1,090,032 shares of common stock in the conversion of $1,080 principal and $599 in interest due to LG Capital Funding, LLC at $0.00154 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On October 19, 2017, the Company issued 1,141,941 shares of common stock in the conversion of $1,130 principal and $629 in interest due to LG Capital Funding, LLC at $0.00154 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On November 6, 2017, the Company issued 1,201,538 shares of common stock in the conversion of $1,180 principal and $670 in interest due to LG Capital Funding. LLC at $0.00154 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On November 28, 2017, the Company issued 1,262,260 shares of common stock in the conversion of $2,325 principal and $1,354 in interest due to LG Capital Funding. LLC at $0.00292 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On December 6, 2017, the Company issued 1,326,373 shares of common stock in the conversion of $2,435 principal and $1,431 in interest due to LG Capital Funding. LLC at $0.00292 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On December 22, 2017, the Company issued 2,009,595 shares of common stock in the conversion of the remaining $3,665 in principal and $2,193 in interest due to LG Capital Funding. LLC at $0.00292 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;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-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>As of December 31, 2017, the convertible debenture was fully converted to shares of the Company’s common stock and the balance of the convertible debenture was $0.  </p>
31500
0
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'><u>NOTE 5 - DERIVATIVE LIABILITY</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>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-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>Between March and December 2017, the holder of the convertible debenture elected to convert all $24,500 in principal of the convertible debenture into 18,263,209 shares of the Company’s common stock. As a result of debt conversions, $96,692 of derivative liability was extinguished through a charge to paid-in capital.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>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 $9,526 to additional paid-in capital.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>During the year ended December 31, 2017, $82,872 was recorded as a loss on mark-to-market of the conversion options.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;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-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>The following table summarizes the activities in connection with derivative liability during the year ended December 31, 2017 and the derivative liability balance at December 31, 2017:</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'> </p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="80%" style='width:80.0%'> <tr align="left"> <td width="87%" valign="bottom" style='width:87.9%;background:#CCEEFF;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'>Balance, December 31, 2016</p> </td> <td width="0%" valign="bottom" style='width:.92%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.34%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="8%" valign="bottom" style='width:8.92%;background:#CCEEFF;padding:0'> <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="0%" valign="bottom" style='width:.92%;background:#CCEEFF;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;line-height:normal'> </p> </td> </tr> <tr align="left"> <td width="87%" valign="bottom" style='width:87.9%;background:white;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'>Reclassification of derivative liability to paid-in capital</p> </td> <td width="0%" valign="bottom" style='width:.92%;background:white;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.34%;background:white;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;line-height:normal'> </p> </td> <td width="8%" valign="bottom" style='width:8.92%;background:white;padding:0'> <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'>(96,691</p> </td> <td width="0%" valign="bottom" style='width:.92%;background:white;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;line-height:normal'>)</p> </td> </tr> <tr align="left"> <td width="87%" valign="bottom" style='width:87.9%;background:#CCEEFF;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'>Loss on change in fair value</p> </td> <td width="0%" valign="bottom" style='width:.92%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.34%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="8%" valign="bottom" style='width:8.92%;background:#CCEEFF;padding:0'> <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'>82,872</p> </td> <td width="0%" valign="bottom" style='width:.92%;background:#CCEEFF;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;line-height:normal'> </p> </td> </tr> <tr align="left"> <td width="87%" valign="bottom" style='width:87.9%;background:white;padding:0in 0in 1.5pt 0in'> <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'>Extinguishment of liability to equity due to release from ASC 815</p> </td> <td width="0%" valign="bottom" style='width:.92%;background:white;padding:0in 0in 1.5pt 0in'> <p style='margin-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="1%" valign="bottom" style='width:1.34%;border:none;border-bottom:solid black 1.5pt;background:white;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;line-height:normal'> </p> </td> <td width="8%" valign="bottom" style='width:8.92%;border:none;border-bottom:solid black 1.5pt;background:white;padding:0'> <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'>(9,526</p> </td> <td width="0%" valign="bottom" style='width:.92%;background:white;padding:0in 0in 1.5pt 0in'> <p style='margin-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 align="left"> <td width="87%" valign="bottom" style='width:87.9%;background:#CCEEFF;padding:0in 0in 3.0pt 0in'> <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'>Balance, December 31, 2017</p> </td> <td width="0%" valign="bottom" style='width:.92%;background:#CCEEFF;padding:0in 0in 3.0pt 0in'> <p style='margin-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="1%" valign="bottom" style='width:1.34%;border:none;border-bottom:double black 2.25pt;background:#CCEEFF;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;line-height:normal'>$</p> </td> <td width="8%" valign="bottom" style='width:8.92%;border:none;border-bottom:double black 2.25pt;background:#CCEEFF;padding:0'> <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="0%" valign="bottom" style='width:.92%;background:#CCEEFF;padding:0in 0in 3.0pt 0in'> <p style='margin-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> </table> </div> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'><font style=',serif'> </font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>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-top:3.0pt;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'> </p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="67%" style='width:67.88%'> <tr align="left"> <td width="65%" valign="bottom" style='width:65.96%;padding:0in 0in 1.5pt 0in'> <p style='margin-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="1%" valign="bottom" style='width:1.28%;padding:0in 0in 1.5pt 0in'> <p style='margin-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 colspan="2" style='border:none;border-bottom:solid black 1.5pt;padding:0'> <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>2017</b></p> </td> <td width="2%" valign="bottom" style='width:2.64%;padding:0in 0in 1.5pt 0in'> <p style='margin-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="1%" valign="bottom" style='width:1.3%;padding:0in 0in 1.5pt 0in'> <p style='margin-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="3%" colspan="2" style='width:3.32%;border:none;border-bottom:solid black 1.5pt;padding:0'> <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="2%" valign="bottom" style='width:2.82%;padding:0in 0in 1.5pt 0in'> <p style='margin-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 align="left"> <td width="65%" style='width:65.96%;background:#CCEEFF;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;line-height:normal'>Expected dividends</p> </td> <td width="1%" valign="bottom" style='width:1.28%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.28%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="21%" valign="bottom" style='width:21.42%;background:#CCEEFF;padding:0'> <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="2%" valign="bottom" style='width:2.64%;background:#CCEEFF;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;line-height:normal'>%</p> </td> <td width="1%" valign="bottom" style='width:1.3%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.3%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="2%" valign="bottom" style='width:2.04%;background:#CCEEFF;padding:0'> <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="2%" valign="bottom" style='width:2.82%;background:#CCEEFF;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;line-height:normal'> </p> </td> </tr> <tr align="left"> <td width="65%" style='width:65.96%;background:white;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;line-height:normal'>Expected term (years)</p> </td> <td width="1%" valign="bottom" style='width:1.28%;background:white;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.28%;background:white;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;line-height:normal'> </p> </td> <td width="21%" valign="bottom" style='width:21.42%;background:white;padding:0'> <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'>0.12</p> </td> <td width="2%" valign="bottom" style='width:2.64%;background:white;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.3%;background:white;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.3%;background:white;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;line-height:normal'> </p> </td> <td width="2%" valign="bottom" style='width:2.04%;background:white;padding:0'> <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="2%" valign="bottom" style='width:2.82%;background:white;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;line-height:normal'> </p> </td> </tr> <tr align="left"> <td width="65%" style='width:65.96%;background:#CCEEFF;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;line-height:normal'>Volatility</p> </td> <td width="1%" valign="bottom" style='width:1.28%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.28%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="21%" valign="bottom" style='width:21.42%;background:#CCEEFF;padding:0'> <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'>78% - 235</p> </td> <td width="2%" valign="bottom" style='width:2.64%;background:#CCEEFF;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;line-height:normal'>%</p> </td> <td width="1%" valign="bottom" style='width:1.3%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.3%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="2%" valign="bottom" style='width:2.04%;background:#CCEEFF;padding:0'> <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="2%" valign="bottom" style='width:2.82%;background:#CCEEFF;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;line-height:normal'> </p> </td> </tr> <tr align="left"> <td width="65%" style='width:65.96%;background:white;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;line-height:normal'>Risk-free rate</p> </td> <td width="1%" valign="bottom" style='width:1.28%;background:white;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.28%;background:white;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;line-height:normal'> </p> </td> <td width="21%" valign="bottom" style='width:21.42%;background:white;padding:0'> <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'>0.74% - 1.33</p> </td> <td width="2%" valign="bottom" style='width:2.64%;background:white;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;line-height:normal'>%</p> </td> <td width="1%" valign="bottom" style='width:1.3%;background:white;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.3%;background:white;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;line-height:normal'> </p> </td> <td width="2%" valign="bottom" style='width:2.04%;background:white;padding:0'> <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="2%" valign="bottom" style='width:2.82%;background:white;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;line-height:normal'> </p> </td> </tr> </table> </div> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p>
31500
20767
24500
18263209
96692
-9526
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'> </p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="80%" style='width:80.0%'> <tr align="left"> <td width="87%" valign="bottom" style='width:87.9%;background:#CCEEFF;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'>Balance, December 31, 2016</p> </td> <td width="0%" valign="bottom" style='width:.92%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.34%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="8%" valign="bottom" style='width:8.92%;background:#CCEEFF;padding:0'> <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="0%" valign="bottom" style='width:.92%;background:#CCEEFF;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;line-height:normal'> </p> </td> </tr> <tr align="left"> <td width="87%" valign="bottom" style='width:87.9%;background:white;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'>Reclassification of derivative liability to paid-in capital</p> </td> <td width="0%" valign="bottom" style='width:.92%;background:white;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.34%;background:white;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;line-height:normal'> </p> </td> <td width="8%" valign="bottom" style='width:8.92%;background:white;padding:0'> <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'>(96,691</p> </td> <td width="0%" valign="bottom" style='width:.92%;background:white;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;line-height:normal'>)</p> </td> </tr> <tr align="left"> <td width="87%" valign="bottom" style='width:87.9%;background:#CCEEFF;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'>Loss on change in fair value</p> </td> <td width="0%" valign="bottom" style='width:.92%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.34%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="8%" valign="bottom" style='width:8.92%;background:#CCEEFF;padding:0'> <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'>82,872</p> </td> <td width="0%" valign="bottom" style='width:.92%;background:#CCEEFF;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;line-height:normal'> </p> </td> </tr> <tr align="left"> <td width="87%" valign="bottom" style='width:87.9%;background:white;padding:0in 0in 1.5pt 0in'> <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'>Extinguishment of liability to equity due to release from ASC 815</p> </td> <td width="0%" valign="bottom" style='width:.92%;background:white;padding:0in 0in 1.5pt 0in'> <p style='margin-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="1%" valign="bottom" style='width:1.34%;border:none;border-bottom:solid black 1.5pt;background:white;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;line-height:normal'> </p> </td> <td width="8%" valign="bottom" style='width:8.92%;border:none;border-bottom:solid black 1.5pt;background:white;padding:0'> <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'>(9,526</p> </td> <td width="0%" valign="bottom" style='width:.92%;background:white;padding:0in 0in 1.5pt 0in'> <p style='margin-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 align="left"> <td width="87%" valign="bottom" style='width:87.9%;background:#CCEEFF;padding:0in 0in 3.0pt 0in'> <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'>Balance, December 31, 2017</p> </td> <td width="0%" valign="bottom" style='width:.92%;background:#CCEEFF;padding:0in 0in 3.0pt 0in'> <p style='margin-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="1%" valign="bottom" style='width:1.34%;border:none;border-bottom:double black 2.25pt;background:#CCEEFF;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;line-height:normal'>$</p> </td> <td width="8%" valign="bottom" style='width:8.92%;border:none;border-bottom:double black 2.25pt;background:#CCEEFF;padding:0'> <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="0%" valign="bottom" style='width:.92%;background:#CCEEFF;padding:0in 0in 3.0pt 0in'> <p style='margin-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> </table> </div> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'><font style=',serif'> </font></p>
23347
-96691
82872
-9526
0
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'> </p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="67%" style='width:67.88%'> <tr align="left"> <td width="65%" valign="bottom" style='width:65.96%;padding:0in 0in 1.5pt 0in'> <p style='margin-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="1%" valign="bottom" style='width:1.28%;padding:0in 0in 1.5pt 0in'> <p style='margin-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 colspan="2" style='border:none;border-bottom:solid black 1.5pt;padding:0'> <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>2017</b></p> </td> <td width="2%" valign="bottom" style='width:2.64%;padding:0in 0in 1.5pt 0in'> <p style='margin-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="1%" valign="bottom" style='width:1.3%;padding:0in 0in 1.5pt 0in'> <p style='margin-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="3%" colspan="2" style='width:3.32%;border:none;border-bottom:solid black 1.5pt;padding:0'> <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="2%" valign="bottom" style='width:2.82%;padding:0in 0in 1.5pt 0in'> <p style='margin-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 align="left"> <td width="65%" style='width:65.96%;background:#CCEEFF;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;line-height:normal'>Expected dividends</p> </td> <td width="1%" valign="bottom" style='width:1.28%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.28%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="21%" valign="bottom" style='width:21.42%;background:#CCEEFF;padding:0'> <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="2%" valign="bottom" style='width:2.64%;background:#CCEEFF;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;line-height:normal'>%</p> </td> <td width="1%" valign="bottom" style='width:1.3%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.3%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="2%" valign="bottom" style='width:2.04%;background:#CCEEFF;padding:0'> <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="2%" valign="bottom" style='width:2.82%;background:#CCEEFF;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;line-height:normal'> </p> </td> </tr> <tr align="left"> <td width="65%" style='width:65.96%;background:white;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;line-height:normal'>Expected term (years)</p> </td> <td width="1%" valign="bottom" style='width:1.28%;background:white;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.28%;background:white;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;line-height:normal'> </p> </td> <td width="21%" valign="bottom" style='width:21.42%;background:white;padding:0'> <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'>0.12</p> </td> <td width="2%" valign="bottom" style='width:2.64%;background:white;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.3%;background:white;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.3%;background:white;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;line-height:normal'> </p> </td> <td width="2%" valign="bottom" style='width:2.04%;background:white;padding:0'> <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="2%" valign="bottom" style='width:2.82%;background:white;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;line-height:normal'> </p> </td> </tr> <tr align="left"> <td width="65%" style='width:65.96%;background:#CCEEFF;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;line-height:normal'>Volatility</p> </td> <td width="1%" valign="bottom" style='width:1.28%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.28%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="21%" valign="bottom" style='width:21.42%;background:#CCEEFF;padding:0'> <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'>78% - 235</p> </td> <td width="2%" valign="bottom" style='width:2.64%;background:#CCEEFF;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;line-height:normal'>%</p> </td> <td width="1%" valign="bottom" style='width:1.3%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.3%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="2%" valign="bottom" style='width:2.04%;background:#CCEEFF;padding:0'> <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="2%" valign="bottom" style='width:2.82%;background:#CCEEFF;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;line-height:normal'> </p> </td> </tr> <tr align="left"> <td width="65%" style='width:65.96%;background:white;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;line-height:normal'>Risk-free rate</p> </td> <td width="1%" valign="bottom" style='width:1.28%;background:white;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.28%;background:white;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;line-height:normal'> </p> </td> <td width="21%" valign="bottom" style='width:21.42%;background:white;padding:0'> <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'>0.74% - 1.33</p> </td> <td width="2%" valign="bottom" style='width:2.64%;background:white;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;line-height:normal'>%</p> </td> <td width="1%" valign="bottom" style='width:1.3%;background:white;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.3%;background:white;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;line-height:normal'> </p> </td> <td width="2%" valign="bottom" style='width:2.04%;background:white;padding:0'> <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="2%" valign="bottom" style='width:2.82%;background:white;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;line-height:normal'> </p> </td> </tr> </table> </div> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p>
P1M13D
0.7800
2.3500
0.0074
0.0133
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'><u>NOTE 6 - LOAN TRANSACTION</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>The Company purchased a recorded music compilation from EuGene Gant for a purchase price of $5,000 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 $1,000 on June 15, 2012 and $2,000 on October 1, 2012, and $1,000 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 $71 for the year ended December 31, 2018, and $69 for the year ended December 31, 2017.  As of December 31, 2018 and December 31, 2017, total outstanding short-term debt was $1,489 and $1,418, respectively.  The note matured on June 15, 2013 and the loan is currently in default.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>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, 2018 and December 31, 2017, the total amount owed was $2,100 and $2,100, respectively.</p>
5000
1000
2000
1000
1489
1418
2100
2100
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'><u>NOTE 7 – RELATED PARTY TRANSACTIONS</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;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-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>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 $10,408 during the year ended December 31, 2018 and $135,015 during the year ended December 31, 2017. The Company reimbursed IQ acquisition (NY) in the amount of $42,101 and $142,779 during the years ended December 31, 2018 and 2017. The balances due to related party as of December 31, 2018 and December 31, 2017 were $5,807 and $37,500, respectively. The advances are unsecured, payable on demand, and carry no interest.</p>
10408
135015
42101
142779
5807
37500
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'><u>NOTE 8 – MATERIAL CONTRACT</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>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 expired 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.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'><u>NOTE 9 - EQUITY TRANSACTIONS</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>The Company has authorized 10,000,000 shares of Preferred Stock and 140,000,000 shares of Common Stock at par value of $0.001. At December 31, 2018 and December 31, 2017, the Company had 29,890,066 and 29,890,066 shares of common stock, and 2,090,000 and 2,090,000 preferred shares, issued and outstanding, respectively.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On March 21, 2017, the Company issued 572,476 shares of common stock in the conversion of $2,000 principal and $834 in interest due to LG Capital Funding, LLC at $0.00495 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On June 8, 2017, the Company issued 603,038 shares of common stock in the conversion of $700 principal and $328 in interest due to LG Capital Funding, LLC at $0.00171 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On June 13, 2017, the Company issued 638,926 shares of common stock in the conversion of $740 principal and $350 in interest due to LG Capital Funding, LLC at $0.00171 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On June 27, 2017, the Company issued 670,334 shares of common stock in the conversion of $1,245 principal and $598 in interest due to LG Capital Funding, LLC at $0.00275 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On July 18, 2017, the Company issued 701,519 shares of common stock in the conversion of $800 principal and $396 in interest due to LG Capital Funding, LLC at $0.00171 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On July 24, 2017, the Company issued 735,903 shares of common stock in the conversion of $810 principal and $404 in interest due to LG Capital Funding, LLC at $0.00165 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;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-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On August 3, 2017, the Company issued 775,636 shares of common stock in the conversion of $850 principal and $430 in interest due to LG Capital Funding, LLC at $0.00165 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On August 18, 2017, the Company issued 812,860 shares of common stock in the conversion of $885 principal and $456 in interest due to LG Capital Funding, LLC at $0.00165 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On August 25, 2017, the Company issued 852,841 shares of common stock in the conversion of $1,080 principal and $562 in interest due to LG Capital Funding, LLC at $0.00193 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;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-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On August 31, 2017, the Company issued 897,810 shares of common stock in the conversion of $810 principal and $424 in interest due to LG Capital Funding, LLC at $0.00138 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On September 13, 2017, the Company issued 941,854 shares of common stock in the conversion of $845 principal and $450 in interest due to LG Capital Funding, LLC at $0.00138 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On September 20, 2017, the Company issued 989,403 shares of common stock in the conversion of $885 principal and $475 in interest due to LG Capital Funding, LLC at $0.00138 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On October <font style=',serif'>3</font>, 2017, the Company issued 1,038,870 shares of common stock in the conversion of $1,035 principal and $565 in interest due to LG Capital Funding, LLC at $0.00154 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On October 16, 2017, the Company issued 1,090,032 shares of common stock in the conversion of $1,080 principal and $599 in interest due to LG Capital Funding, LLC at $0.00154 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On October 19, 2017, the Company issued 1,141,941 shares of common stock in the conversion of $1,130 principal and $629 in interest due to LG Capital Funding, LLC at $0.00154 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On November 6, 2017, the Company issued 1,201,538 shares of common stock in the conversion of $1,180 principal and $670 in interest due to LG Capital Funding. LLC at $0.00154 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On November 28, 2017, the Company issued 1,262,260 shares of common stock in the conversion of $2,325 principal and $1,354 in interest due to LG Capital Funding. LLC at $0.00292 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On December 6, 2017, the Company issued 1,326,373 shares of common stock in the conversion of $2,435 principal and $1,431 in interest due to LG Capital Funding. LLC at $0.00292 per share, as calculated per the loan agreement.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On December 14, 2017, in accordance with the Company's share subscription agreements with the Series B subscribers, the Company issued 2,090,000 shares of Series B preferred stock to twenty-two (22) individual subscribers for a total cash procced of $515,000. 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.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>On December 22, 2017, the Company issued 2,009,595 shares of common stock in the conversion of the remaining $3,665 in principal and $2,193 in interest due to LG Capital Funding. LLC at $0.00292 per share, as calculated per the loan agreement.</p>
10000000
10000000
140000000
140000000
0.001
0.001
0.001
0.001
29890066
29890066
29890066
29890066
2090000
572476
2000
834
0.00495
603038
700
328
0.00171
638926
740
350
0.00171
670334
1245
598
0.00275
701519
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396
0.00171
735903
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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
2090000
515000
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;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 $152,000.  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-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;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'>The holders of the Series B convertible preferred stock have the following rights and privileges:</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;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, 2018, 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;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;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;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 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;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 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 and as of December 31, 2018 was $201,809. At December 31, 2018, total 2,090,000 shares of Series B convertible preferred stock authorized, issued and outstanding.</p>
1210000
363000
380000
152000
500000
160000
2090000
2090000
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'><u>NOTE 11 – FOREIGN CURRENCY LOSS</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>The foreign currency loss of $26,085, for the year end December 31, 2017, arose 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.</p>
26085
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'><u>NOTE 12 – INCOME TAXES</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;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 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.</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'>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.</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'>On December 22, 2017, the United States signed into law the Tax Cuts and Jobs Act (the “Act”), a tax reform bill which, among other items, reduces the current federal income tax rate to 21% from 34%. Beginning January 1, 2018, the lower tax rate of 21% will be used to calculate the amount of any federal income tax due on taxable income earned during 2018. </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 provisions for income taxes differs from the amounts which would be provided by applying the statutory federal income tax rate of 21% and 34% as of December 31, 2018 and 2017, respectively, to the net loss before provisions for income taxes for the following reasons:</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="80%" style='width:80.0%'> <tr align="left"> <td valign="top" style='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;line-height:normal'> </p> </td> <td valign="bottom" style='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;line-height:normal'> </p> </td> <td colspan="2" style='padding:0'> <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 </b></p> <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>ended</b></p> </td> <td valign="bottom" style='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;line-height:normal'> </p> </td> <td valign="bottom" style='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;line-height:normal'> </p> </td> <td colspan="2" style='padding:0'> <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 </b></p> <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>ended</b></p> </td> <td valign="bottom" style='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;line-height:normal'> </p> </td> </tr> <tr align="left"> <td valign="top" style='padding:0in 0in 1.5pt 0in'> <p style='margin-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 valign="bottom" style='padding:0in 0in 1.5pt 0in'> <p style='margin-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 colspan="2" style='border:none;border-bottom:solid black 1.5pt;padding:0'> <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, </b></p> <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>2018</b></p> </td> <td valign="bottom" style='padding:0in 0in 1.5pt 0in'> <p style='margin-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 valign="bottom" style='padding:0in 0in 1.5pt 0in'> <p style='margin-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 colspan="2" style='border:none;border-bottom:solid black 1.5pt;padding:0'> <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, </b></p> <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>2017</b></p> </td> <td valign="bottom" style='padding:0in 0in 1.5pt 0in'> <p style='margin-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 align="left"> <td style='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;line-height:normal'> </p> </td> <td valign="bottom" style='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;line-height:normal'> </p> </td> <td colspan="2" style='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;line-height:normal'> </p> </td> <td valign="bottom" style='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;line-height:normal'> </p> </td> <td valign="bottom" style='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;line-height:normal'> </p> </td> <td colspan="2" style='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;line-height:normal'> </p> </td> <td valign="bottom" style='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;line-height:normal'> </p> </td> </tr> <tr align="left"> <td width="73%" style='width:73.32%;background:#CCEEFF;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;line-height:normal'>Income tax expense (asset) at statutory rate</p> </td> <td width="0%" valign="bottom" style='width:.66%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.34%;background:#CCEEFF;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;line-height:normal'>$</p> </td> <td width="10%" valign="bottom" style='width:10.44%;background:#CCEEFF;padding:0'> <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'>(131,942</p> </td> <td width="0%" valign="bottom" style='width:.9%;background:#CCEEFF;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;line-height:normal'>)</p> </td> <td width="0%" valign="bottom" style='width:.66%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.34%;background:#CCEEFF;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;line-height:normal'>$</p> </td> <td width="10%" valign="bottom" style='width:10.44%;background:#CCEEFF;padding:0'> <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="0%" valign="bottom" style='width:.9%;background:#CCEEFF;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;line-height:normal'>)</p> </td> </tr> <tr align="left"> <td width="73%" style='width:73.32%;background:white;padding:0in 0in 1.5pt 0in'> <p style='margin-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="0%" valign="bottom" style='width:.66%;background:white;padding:0in 0in 1.5pt 0in'> <p style='margin-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="1%" valign="bottom" style='width:1.34%;border:none;border-bottom:solid black 1.5pt;background:white;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;line-height:normal'> </p> </td> <td width="10%" valign="bottom" style='width:10.44%;border:none;border-bottom:solid black 1.5pt;background:white;padding:0'> <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'>131,942</p> </td> <td width="0%" valign="bottom" style='width:.9%;background:white;padding:0in 0in 1.5pt 0in'> <p style='margin-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="0%" valign="bottom" style='width:.66%;background:white;padding:0in 0in 1.5pt 0in'> <p style='margin-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="1%" valign="bottom" style='width:1.34%;border:none;border-bottom:solid black 1.5pt;background:white;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;line-height:normal'> </p> </td> <td width="10%" valign="bottom" style='width:10.44%;border:none;border-bottom:solid black 1.5pt;background:white;padding:0'> <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="0%" valign="bottom" style='width:.9%;background:white;padding:0in 0in 1.5pt 0in'> <p style='margin-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 align="left"> <td width="73%" style='width:73.32%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="0%" valign="bottom" style='width:.66%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.34%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="10%" valign="bottom" style='width:10.44%;background:#CCEEFF;padding:0'> <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="0%" valign="bottom" style='width:.9%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="0%" valign="bottom" style='width:.66%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.34%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="10%" valign="bottom" style='width:10.44%;background:#CCEEFF;padding:0'> <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="0%" valign="bottom" style='width:.9%;background:#CCEEFF;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;line-height:normal'> </p> </td> </tr> <tr align="left"> <td width="73%" style='width:73.32%;background:white;padding:0in 0in 3.0pt 0in'> <p style='margin-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="0%" valign="bottom" style='width:.66%;background:white;padding:0in 0in 3.0pt 0in'> <p style='margin-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="1%" valign="bottom" style='width:1.34%;border:none;border-bottom:double black 2.25pt;background:white;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;line-height:normal'>$</p> </td> <td width="10%" valign="bottom" style='width:10.44%;border:none;border-bottom:double black 2.25pt;background:white;padding:0'> <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="0%" valign="bottom" style='width:.9%;background:white;padding:0in 0in 3.0pt 0in'> <p style='margin-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="0%" valign="bottom" style='width:.66%;background:white;padding:0in 0in 3.0pt 0in'> <p style='margin-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="1%" valign="bottom" style='width:1.34%;border:none;border-bottom:double black 2.25pt;background:white;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;line-height:normal'>$</p> </td> <td width="10%" valign="bottom" style='width:10.44%;border:none;border-bottom:double black 2.25pt;background:white;padding:0'> <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="0%" valign="bottom" style='width:.9%;background:white;padding:0in 0in 3.0pt 0in'> <p style='margin-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> </table> </div> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'>The net operating loss carry forwards for the year ended December 31, 2018 was $628,296, and for the year ended December 31, 2017 was $572,775, 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 2038. This carry forward may be limited upon the consummation of a business combination under IRC Section 381.</p>
0.2100
0.3400
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;line-height:normal'> </p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="80%" style='width:80.0%'> <tr align="left"> <td valign="top" style='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;line-height:normal'> </p> </td> <td valign="bottom" style='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;line-height:normal'> </p> </td> <td colspan="2" style='padding:0'> <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 </b></p> <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>ended</b></p> </td> <td valign="bottom" style='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;line-height:normal'> </p> </td> <td valign="bottom" style='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;line-height:normal'> </p> </td> <td colspan="2" style='padding:0'> <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 </b></p> <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>ended</b></p> </td> <td valign="bottom" style='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;line-height:normal'> </p> </td> </tr> <tr align="left"> <td valign="top" style='padding:0in 0in 1.5pt 0in'> <p style='margin-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 valign="bottom" style='padding:0in 0in 1.5pt 0in'> <p style='margin-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 colspan="2" style='border:none;border-bottom:solid black 1.5pt;padding:0'> <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, </b></p> <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>2018</b></p> </td> <td valign="bottom" style='padding:0in 0in 1.5pt 0in'> <p style='margin-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 valign="bottom" style='padding:0in 0in 1.5pt 0in'> <p style='margin-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 colspan="2" style='border:none;border-bottom:solid black 1.5pt;padding:0'> <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, </b></p> <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>2017</b></p> </td> <td valign="bottom" style='padding:0in 0in 1.5pt 0in'> <p style='margin-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 align="left"> <td style='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;line-height:normal'> </p> </td> <td valign="bottom" style='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;line-height:normal'> </p> </td> <td colspan="2" style='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;line-height:normal'> </p> </td> <td valign="bottom" style='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;line-height:normal'> </p> </td> <td valign="bottom" style='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;line-height:normal'> </p> </td> <td colspan="2" style='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;line-height:normal'> </p> </td> <td valign="bottom" style='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;line-height:normal'> </p> </td> </tr> <tr align="left"> <td width="73%" style='width:73.32%;background:#CCEEFF;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;line-height:normal'>Income tax expense (asset) at statutory rate</p> </td> <td width="0%" valign="bottom" style='width:.66%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.34%;background:#CCEEFF;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;line-height:normal'>$</p> </td> <td width="10%" valign="bottom" style='width:10.44%;background:#CCEEFF;padding:0'> <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'>(131,942</p> </td> <td width="0%" valign="bottom" style='width:.9%;background:#CCEEFF;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;line-height:normal'>)</p> </td> <td width="0%" valign="bottom" style='width:.66%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.34%;background:#CCEEFF;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;line-height:normal'>$</p> </td> <td width="10%" valign="bottom" style='width:10.44%;background:#CCEEFF;padding:0'> <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="0%" valign="bottom" style='width:.9%;background:#CCEEFF;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;line-height:normal'>)</p> </td> </tr> <tr align="left"> <td width="73%" style='width:73.32%;background:white;padding:0in 0in 1.5pt 0in'> <p style='margin-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="0%" valign="bottom" style='width:.66%;background:white;padding:0in 0in 1.5pt 0in'> <p style='margin-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="1%" valign="bottom" style='width:1.34%;border:none;border-bottom:solid black 1.5pt;background:white;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;line-height:normal'> </p> </td> <td width="10%" valign="bottom" style='width:10.44%;border:none;border-bottom:solid black 1.5pt;background:white;padding:0'> <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'>131,942</p> </td> <td width="0%" valign="bottom" style='width:.9%;background:white;padding:0in 0in 1.5pt 0in'> <p style='margin-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="0%" valign="bottom" style='width:.66%;background:white;padding:0in 0in 1.5pt 0in'> <p style='margin-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="1%" valign="bottom" style='width:1.34%;border:none;border-bottom:solid black 1.5pt;background:white;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;line-height:normal'> </p> </td> <td width="10%" valign="bottom" style='width:10.44%;border:none;border-bottom:solid black 1.5pt;background:white;padding:0'> <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="0%" valign="bottom" style='width:.9%;background:white;padding:0in 0in 1.5pt 0in'> <p style='margin-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 align="left"> <td width="73%" style='width:73.32%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="0%" valign="bottom" style='width:.66%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.34%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="10%" valign="bottom" style='width:10.44%;background:#CCEEFF;padding:0'> <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="0%" valign="bottom" style='width:.9%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="0%" valign="bottom" style='width:.66%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="1%" valign="bottom" style='width:1.34%;background:#CCEEFF;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;line-height:normal'> </p> </td> <td width="10%" valign="bottom" style='width:10.44%;background:#CCEEFF;padding:0'> <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="0%" valign="bottom" style='width:.9%;background:#CCEEFF;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;line-height:normal'> </p> </td> </tr> <tr align="left"> <td width="73%" style='width:73.32%;background:white;padding:0in 0in 3.0pt 0in'> <p style='margin-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="0%" valign="bottom" style='width:.66%;background:white;padding:0in 0in 3.0pt 0in'> <p style='margin-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="1%" valign="bottom" style='width:1.34%;border:none;border-bottom:double black 2.25pt;background:white;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;line-height:normal'>$</p> </td> <td width="10%" valign="bottom" style='width:10.44%;border:none;border-bottom:double black 2.25pt;background:white;padding:0'> <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="0%" valign="bottom" style='width:.9%;background:white;padding:0in 0in 3.0pt 0in'> <p style='margin-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="0%" valign="bottom" style='width:.66%;background:white;padding:0in 0in 3.0pt 0in'> <p style='margin-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="1%" valign="bottom" style='width:1.34%;border:none;border-bottom:double black 2.25pt;background:white;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;line-height:normal'>$</p> </td> <td width="10%" valign="bottom" style='width:10.44%;border:none;border-bottom:double black 2.25pt;background:white;padding:0'> <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="0%" valign="bottom" style='width:.9%;background:white;padding:0in 0in 3.0pt 0in'> <p style='margin-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> </table> </div>
-131942
-194744
131942
194744
0
0
628296
572775
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:justify;text-justify:inter-ideograph;line-height:normal'><u>NOTE 13 – SUBSEQUENT EVENTS</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;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'>The Company has evaluated subsequent events that have occurred after the date of the balance sheet through the date of issuance of these financial statements and determined that no subsequent event requires recognition or disclosure to the financial statements.</p>
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