Quarterly report pursuant to Section 13 or 15(d)

NOTE 4: RELATED PARTY TRANSACTIONS

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NOTE 4: RELATED PARTY TRANSACTIONS
9 Months Ended
Sep. 30, 2016
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure [Text Block]
NOTE 4: RELATED PARTY TRANSACTIONS

Accruals for salary and bonuses to officers and directors are included in accrued liabilities in the balance sheets and totaled $2,550,426 and $3,037,376 as of September 30, 2016 and December 31, 2015, respectively.

During the nine months to September 30, 2016, the Company issued 1,785,714 common shares for the conversion of $500,000 of salary due to an officer. The fair value of the shares was $1,116,071, of which $616,071 was recorded as additional compensation expense.

During the nine months ended September 30, 2016, the Company issued 12,900,000 shares of common stock for bonuses to officers and directors valued at $6,289,640, which was recorded as compensation expense.

During the nine months ended September 30, 2016, officers of the company advanced $32,450 to the Company to cover short-term financing needs.  $1,000 was repaid and the outstanding balance was $31,450 as of September 30, 2016. The short-term loan is due on demand, does not accrue interest and is unsecured.

During the nine months ended September 30, 2016, an officer of the Company transferred 434,244 common shares of the Company to a note holder on behalf of the Company for default expense. The fair value of the shares of $121,371 was recognized as loan default expense.