11. Equity |
3 Months Ended |
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Mar. 31, 2016 | |
Notes to Financial Statements | |
Note 11. Equity |
The Company was established with two classes of stock, common stock 150,000,000 shares authorized at a par value of $0.001 and preferred stock 2,000,000 shares authorized at a par value of $0.001.
Common Stock
On January 1, 2016, the Company issued 164,500 shares of common stock to the holders of notes with a term of three years, bear interest at 10% per annum, and are convertible into one share of common stock, par value $0.001 per share, with the initial conversion ratio equal to $0.50 per share, as payment for accrued interest due as of December 31, 2015. |
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- References No definition available.
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- Definition 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
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