Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.10.0.1
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2018
Accounting Policies [Abstract]  
Earnings per share

 

    ,
    2018   2017
Net Income (Loss)     (3,046,308 )     1,365,886  
                 
Weighted Average Basic Shares     75,887,946       74,032,631  
Effect of Dilutive Securities             1,312,317  
Weighted Average Diluted Shares     75,887,946       75,344,948  
                 
Earnings per share                
Basic     (0.04 )     0.02  
Diluted     (0.04 )     0.02  

Level 3 Fair Value Measurements

 

Balance at December 31, 2016   $ 211,262  
Issued during the year ended December 31, 2017     268,884  
Exercised during the year ended December 31, 2017     —    
Change in fair value recognized in operations     (257,231 )
Balance at December 31, 2017   $ 222,915  
Issued during the year ended December 31, 2018     31,010,535  
Canceled during the year ended December 31, 2018     (470,070 )
Change in fair value recognized in operations     (18,268,653 )
Adjustment due to ASU 2017-11     (12,494,727 )
Balance at December 31, 2018   $ —    

Property, plant and equipment useful life
Trademarks / names     14 years  
Office equipment     5 years  
Office furniture     8 1/3 years  
Signs and displays     5 years  
Adoption ASU 2017-11

 

    Convertible Debt   Derivative Liability   Additional Paid-in Capital   Accumulated Deficit
Balance, January 1, 2018 (Prior to adoption of ASU 2017-11   $ 1,148,107     $ 222,915     $ 14,254,582     $ (9,897,620 )
Reclassified derivative liabilities and cumulative effect of adoption     —         (222,915 )     287,881       (64,966 )
Balance, January 1, 2018 (After adoption of ASU 2017-11)   $ 1,148,107     $ —       $ 14,542,463     $ (9,962,586 )