2018 Q1 Form 10-Q Financial Statement

#000164033418000360 Filed on February 20, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q4 2016 Q4
Revenue $11.80K $110.00 $139.00
YoY Change 6528.65% -20.86% -90.56%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $130.0K $200.0K $120.0K
YoY Change -7.14% 66.67% 1446.99%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.500K $7.936K $10.89K
YoY Change -39.86% -27.13% -50.75%
% of Gross Profit
Operating Expenses $136.4K $210.8K $127.7K
YoY Change -6.92% 65.05% -85.47%
Operating Profit -$124.6K -$210.7K -$127.6K
YoY Change -14.87% 65.14% -85.46%
Interest Expense $112.9K $111.1K $5.989K
YoY Change 975.0% 1755.07% -90.7%
% of Operating Profit
Other Income/Expense, Net -$272.5K -$326.9K -$4.871K
YoY Change 5110.71% 6610.14% -92.06%
Pretax Income -$400.0K -$540.0K -$130.0K
YoY Change 166.67% 315.38% -86.17%
Income Tax
% Of Pretax Income
Net Earnings -$397.1K -$537.5K -$132.4K
YoY Change 162.02% 305.87% -85.89%
Net Earnings / Revenue -3365.45% -488646.36% -95275.54%
Basic Earnings Per Share $0.00
Diluted Earnings Per Share -$0.07 $0.00 -$0.06
COMMON SHARES
Basic Shares Outstanding 1.146B shares 945.0M shares 464.7M shares
Diluted Shares Outstanding 945.0M shares

Balance Sheet

Concept 2018 Q1 2017 Q4 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $10.00K $10.00K
YoY Change -100.0% 0.0% 0.0%
Cash & Equivalents $1.258K $10.09K $12.60K
Short-Term Investments
Other Short-Term Assets $40.00K
YoY Change -75.0%
Inventory
Prepaid Expenses $38.50K
Receivables $10.00K
Other Receivables $0.00
Total Short-Term Assets $12.90K $10.09K $51.10K
YoY Change -77.21% -80.26% -69.94%
LONG-TERM ASSETS
Property, Plant & Equipment $13.80K $20.30K $60.66K
YoY Change -72.32% -66.53% -49.45%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $24.52K $25.00K
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $38.32K $45.30K $60.66K
YoY Change -23.12% -25.32% -49.45%
TOTAL ASSETS
Total Short-Term Assets $12.90K $10.09K $51.10K
Total Long-Term Assets $38.32K $45.30K $60.66K
Total Assets $51.22K $55.39K $111.8K
YoY Change -51.88% -50.44% -61.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $200.0K $100.0K $5.047K
YoY Change 5084.03% 1881.38%
Accrued Expenses $200.0K $180.0K $80.00K
YoY Change 100.0% 125.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $210.0K $110.0K $110.0K
YoY Change 10.53% 0.0% 57.14%
Total Short-Term Liabilities $1.270M $911.4K $210.1K
YoY Change 265.69% 333.77% -46.13%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.270M $911.4K $210.1K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.270M $911.4K $210.1K
YoY Change 265.69% 333.77% -46.13%
SHAREHOLDERS EQUITY
Retained Earnings -$6.124M -$5.727M -$4.259M
YoY Change 38.86% 34.47%
Common Stock $116.8K $109.2K $46.97K
YoY Change 151.45% 132.58%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.219M -$856.0K -$98.35K
YoY Change
Total Liabilities & Shareholders Equity $51.22K $55.39K $111.8K
YoY Change -51.88% -50.44% -61.46%

Cashflow Statement

Concept 2018 Q1 2017 Q4 2016 Q4
OPERATING ACTIVITIES
Net Income -$397.1K -$537.5K -$132.4K
YoY Change 162.02% 305.87% -85.89%
Depreciation, Depletion And Amortization $6.500K $7.936K $10.89K
YoY Change -39.86% -27.13% -50.75%
Cash From Operating Activities -$10.00K -$80.00K -$80.00K
YoY Change -90.0% 0.0% 100.0%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$30.00K
YoY Change
Cash From Investing Activities $0.00 -$30.00K $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 110.0K 90.00K
YoY Change -100.0% 22.22% 350.0%
NET CHANGE
Cash From Operating Activities -10.00K -80.00K -80.00K
Cash From Investing Activities 0.000 -30.00K 0.000
Cash From Financing Activities 0.000 110.0K 90.00K
Net Change In Cash -10.00K 0.00000000001455 10.00K
YoY Change -200.0% -100.0% -125.0%
FREE CASH FLOW
Cash From Operating Activities -$10.00K -$80.00K -$80.00K
Capital Expenditures $0.00
Free Cash Flow -$80.00K
YoY Change 33.33%

Facts In Submission

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<p align="justify" style="margin: 0px 0px 0px 0in; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; font-size: 13.33px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><b>Use of Estimates</b></p> <p align="justify" style="margin: 0px 0px 0px 0in; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; font-size: 13.33px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">&#160;</p> <p align="justify" style="margin: 0px 0px 0px 0in; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; font-size: 13.33px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">The preparation of financial statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include assumptions about the valuation and recognition of stock-based compensation expense, the valuation and recognition of derivative liability, valuation allowance for deferred tax assets and useful life of fixed assets.</p>
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<div> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px 0px 0px 0in; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: 400; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><b>1. NATURE OF OPERATIONS</b></p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px 0px 0px 0in; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: 400; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px 0px 0px 0in; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: 400; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">AppYea, Inc. ("AppYea", "the Company", "we" or "us") was incorporated in the State of South Dakota on November 26, 2012 to engage in the acquisition, purchase, maintenance and creation of mobile software applications. The Company is in the development stage with no significant revenues and a limited operating history.</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px 0px 0px 0in; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: 400; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px 0px 0px 0in; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: 400; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">The Company incorporated a wholly-owned subsidiary, "The Diagnostic Centers Inc." in State of South Dakota on August 2, 2017.</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px 0px 0px 0in; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: 400; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px 0px 0px 0in; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: 400; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">On June 9, 2017, the Company entered into a Management Services Agreement (&#8220;MSA&#8221;) with The Diagnostic Group, LLC, A Delaware limited liability company (&#8220;TDG&#8221;) under the terms of which, the Company shall perform activities related to direct marketing of TDG products and services to healthcare providers. The initial term of the Agreement will be for thirty-six (36) months from the effective date. The MSA shall automatically renew for successive one (1) year terms, unless either Party gives the other Party ninety (90) days&#8217; written notice of termination prior to the effective date of any renewal term, or unless the MSA is terminated earlier in accordance with Section 6 of the MSA. The Company will be paid for providing services to directly recruited customers at the rate of 35% of the Net Collected Revenue collected from non-federally funded payors by third party providers affiliated or contracted with TDG for ancillary services ordered by recruited customers less any lab specific costs related to any referred samples and/or services and less any refunds or chargebacks. The Company will be paid by the 15th of each month for Net Collected Revenue from the previous month.</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px 0px 0px 0in; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: 400; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">&#160;</p> <div align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px 0px 0px 0in; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: 400; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">The Company's common stock is traded on the OTC Markets (<u>www.otcmarkets.com</u>) under the symbol "APYP". The first day of trading on the OTC Markets was December 15, 2014.</div> </div>
CY2017Q4 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
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CY2017Q2 apyp Percentage Net Collected Revenue Paid To Recruited Customers
PercentageNetCollectedRevenuePaidToRecruitedCustomers
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CY2017Q4 apyp Working Capital Surplus Deficit
WorkingCapitalSurplusDeficit
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CY2017Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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CY2017Q4 us-gaap Property Plant And Equipment Gross
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CY2017Q2 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
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CY2017Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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CY2017Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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apyp Class Of Warrant Or Right Weighted Average Exercise Price Granted
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apyp Class Of Warrant Or Right Weighted Average Exercise Price Exercised
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apyp Class Of Warrant Or Right Weighted Average Exercise Price Forfeited Or Canceled
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apyp Warrants Outstanding Weighted Average Remaining Contractual Life
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apyp Class Of Warrant Or Right Exercisable
ClassOfWarrantOrRightExercisable
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CY2017Q4 apyp Class Of Warrant Or Right Weighted Average Exercise Price
ClassOfWarrantOrRightWeightedAverageExercisePrice
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CY2017Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
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apyp Issuance Of Convertible Notes For Services
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us-gaap Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt
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CY2017 us-gaap Fair Value Assumptions Expected Dividend Rate
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us-gaap Fair Value Assumptions Expected Dividend Rate
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apyp Addition Of New Derivatives Recognized As Debt Discounts
AdditionOfNewDerivativesRecognizedAsDebtDiscounts
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apyp Addition Of New Derivatives Recognized As Loss On Derivatives
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407488 usd
us-gaap Increase Decrease In Derivative Liabilities
IncreaseDecreaseInDerivativeLiabilities
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CY2017Q4 us-gaap Stock Issued During Period Shares Issued For Services
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us-gaap Stock Issued During Period Shares Issued For Services
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us-gaap Litigation Settlement Expense
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67500 usd
CY2013Q1 us-gaap Lease And Rental Expense
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us-gaap Lease And Rental Expense
LeaseAndRentalExpense
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us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1238 usd
CY2013Q1 us-gaap Lessor Leasing Arrangements Operating Leases Term Of Contract
LessorLeasingArrangementsOperatingLeasesTermOfContract
P3M
CY2013Q1 us-gaap Description Of Lessee Leasing Arrangements Operating Leases
DescriptionOfLesseeLeasingArrangementsOperatingLeases
Three-month terms, which shall be automatically extended for successive three-month periods unless there is the notice to cancel. The lease can be cancelled at any time by either party with 30 days' notice prior to expiration of an applicable term.
CY2017Q4 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
1500 shares
us-gaap Preferred Stock Voting Rights
PreferredStockVotingRights
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us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
30000000 shares
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
200 usd
apyp Stock Issued Period For Common Stock Payable
StockIssuedPeriodForCommonStockPayable
57273 usd
CY2017Q4 apyp Stock Payable Common Shares Shares
StockPayableCommonSharesShares
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us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
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us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
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apyp Stock Payable For Service
StockPayableForService
105000 usd
apyp Stock Issued During Period Shares Issuable For Consulting Services
StockIssuedDuringPeriodSharesIssuableForConsultingServices
55000000 shares
CY2017Q4 us-gaap Equity Method Investments
EquityMethodInvestments
25000 usd
CY2017Q2 apyp Convertible Debt Related Party
ConvertibleDebtRelatedParty
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CY2017Q4 apyp Convertible Debt Related Party
ConvertibleDebtRelatedParty
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apyp Class Of Warrant Or Right With Reset Feature
ClassOfWarrantOrRightWithResetFeature
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apyp Class Of Warrant Or Right Weighted Average Exercise Price With Reset Feature
ClassOfWarrantOrRightWeightedAverageExercisePriceWithResetFeature
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CY2017Q2 apyp Debt Instrument Unamortized Discount Related Party Current
DebtInstrumentUnamortizedDiscountRelatedPartyCurrent
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CY2017Q4 apyp Debt Instrument Unamortized Discount Related Party Current
DebtInstrumentUnamortizedDiscountRelatedPartyCurrent
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us-gaap Issuance Of Stock And Warrants For Services Or Claims
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us-gaap Issuance Of Stock And Warrants For Services Or Claims
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us-gaap Proceeds From Notes Payable
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us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
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us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
-25000 usd
apyp Proceeds From Convertible Notes Payable Related Party Net Of Original Issue Discounts
ProceedsFromConvertibleNotesPayableRelatedPartyNetOfOriginalIssueDiscounts
8333 usd
CY2017Q4 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.05 pure
us-gaap Debt Instrument Term
DebtInstrumentTerm
P6M
apyp Class Of Warrant Or Righst Period From Which Warrants Or Rights Exercisable
ClassOfWarrantOrRighstPeriodFromWhichWarrantsOrRightsExercisable
P5Y
CY2017Q4 apyp Class Of Warrant Or Right Exercisable Of Common Stock Shares
ClassOfWarrantOrRightExercisableOfCommonStockShares
42500000 shares
apyp Class Of Warrant Or Right Exercisable Price Per Share
ClassOfWarrantOrRightExercisablePricePerShare
0.0005
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
17000 usd
apyp Number Of Lender For Notes Payable Principal Assignment
NumberOfLenderForNotesPayablePrincipalAssignment
2 lender
CY2017Q2 us-gaap Notes Payable Related Parties Current And Noncurrent
NotesPayableRelatedPartiesCurrentAndNoncurrent
0 usd
CY2017Q4 us-gaap Notes Payable Related Parties Current And Noncurrent
NotesPayableRelatedPartiesCurrentAndNoncurrent
8333 usd
CY2017Q2 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
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CY2017Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
83 usd
CY2017Q2 apyp Convertible Debt Related Party Current And Noncurrent
ConvertibleDebtRelatedPartyCurrentAndNoncurrent
0 usd
CY2017Q4 apyp Convertible Debt Related Party Current And Noncurrent
ConvertibleDebtRelatedPartyCurrentAndNoncurrent
2155 usd
CY2017Q2 apyp Convertible Debt Related Party Noncurrent
ConvertibleDebtRelatedPartyNoncurrent
0 usd
CY2017Q4 apyp Convertible Debt Related Party Noncurrent
ConvertibleDebtRelatedPartyNoncurrent
0 usd
CY2017Q2 us-gaap Debt Instrument Carrying Amount
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250877 usd
CY2017Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
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CY2017Q2 us-gaap Notes Payable
NotesPayable
0 usd
CY2017Q4 us-gaap Notes Payable
NotesPayable
8333 usd
us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.08 pure
us-gaap Derivative Loss On Derivative
DerivativeLossOnDerivative
1038 usd
CY2017Q1 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
9371 usd
CY2017Q4 apyp Value Assigned To Derivative Liability Recognized As Debt Discount
ValueAssignedToDerivativeLiabilityRecognizedAsDebtDiscount
8333 usd
CY2017Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
5000000 shares
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
169442 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
4119 usd

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