Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2017
Accounting Policies [Abstract]  
Schedule of Fair Value of Assets on Recurring Basis

The following table presents certain assets of the Company’s measured and recorded at fair value on the Company’s balance sheet on a recurring basis and their level within the fair value hierarchy as of December 31, 2017.

 

    Total     (Level 1)     (Level 2)     (Level 3)  
Fair-value – equity securities   $ 80,000     $ -     $ -     $ 80,000  
Total Assets measured at fair value   $ 80,000     $ -     $ -     $ 80,000  

 

The following table presents certain assets of the Company’s measured and recorded at fair value on the Company’s balance sheet on a recurring basis and their level within the fair value hierarchy as of December 31, 2016.

 

    Total     (Level 1)     (Level 2)     (Level 3)  
Fair-value – equity securities   $ 892,250     $ -     $ -     $ 892,250  
Total Assets measured at fair value   $ 892,250     $ -     $ -     $ 892,250  

Schedule of Reconciliation of Level 1 & 3 Assets

The following is a reconciliation of the level 3 Assets:

 

Beginning Balance as of January 1, 2017   $ 892,250  
         
Unrealized loss on (level 3) asset December 31, 2017     (812,250 )
         
Ending Balance as of December 31, 2017   $ 80,000  

Schedule of Property and Equipment

Property and equipment as of December 31, 2017 and 2016 consisted of the following:

 

    Estimated            
    Useful Lives   2017     2016  
Computer equipment & Software   3 yrs SL   $ 5,358     $ 5,358  
                     
Furniture   3 yrs SL     4,622       4,622  
Total         9,980       9,980  
Less Accumulated Depreciation         5,268       1,327  
Property and Equipment, net       $ 4,722     $ 8,653