|3 Months Ended|
Mar. 31, 2017
Note 5 – Common stock
On January 13, 2017, the Company issued 3,000,000 shares of common stock valued at $106,500 to a consultant for services rendered. The shares were valued at the market price of $0.0035 per share on the date the shares were granted. For the three months ended March 31, 2017, the total fair value of $106,500 is included in general and administrative expense.
On February 14, 2017, the Company entered into an employment agreement with Cecil Kyte, the Company’s chief executive officer. As part of the employment agreement, the Company issued 5,000,000 shares of common stock to Kyte valued at $161,500. The shares were valued at the market price of $0.0032 per share on the date the shares were granted. For the three months ended March 31, 2017, the total fair value of $161,500 is included in general and administrative expense.
During the three months ended March 31, 2016, the Company sold an aggregate of 10,000,000 shares of its common stock at $0.05 per share and warrants to purchase 10,000,000 shares of its common stock for total gross proceeds of $500,000.
The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.
Reference 1: http://www.xbrl.org/2003/role/presentationRef