Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Deficit

Shareholders' Deficit
3 Months Ended
Mar. 31, 2015
Shareholders' Deficit [Abstract]  
Shareholders' Deficit

Note 4 - Shareholders’ Deficit

Reverse Spilt

On April 28, 2014, we concluded the process of changing our corporate name to Endonovo Therapeutics, Inc. and began trading under the symbol ENDV.  The Company enacted a reverse stock split effective May 15, 2014.  All share and per share numbers in this report have been adjusted for the reverse stock split.

Common Stock

The Company has entered into consulting agreements with various consultants for service to be provided to the Company. The agreements stipulate a monthly fee and a certain number of shares that the consultant vests in over the term of the contract. The consultant is issued a prorated number of shares of common stock at the beginning of the contract, which the consultant earns over a three-month period. At the anniversary of each quarter, the consultant is issued a new allotment of common stock. In accordance with ASC 505-50 – Equity-Based Payment to Non-Employees, the common stock shares issued to the consultant are valued upon their vesting, with interim estimates of value as appropriate during the vesting period.

The shares of common stock that have vested through January 2013 were valued based on a valuation performed by an independent valuation firm as the Company had no active market for its shares prior to that time. The Company’s shares began trading in January 2013; as a result the Company utilized market value for its stock when valuing its common stock for the three months ended March 31, 2013. During the second quarter of 2013, the Company revalued the shares based on low trading volume to $0.001. During the three months ended March 31, 2015, the Company granted 2,304,286 shares for services performed by consultants and recorded expense of $2,304.  

During the three months ended March 31, 2015, the Company issued 325,000 shares of common stock to the purchasers of notes.  The share issuance was valued at $325.

In addition, during the three months ended March 31, 2015, the Company issued 12,200,592 shares of common stock on the conversion of notes in an amount of $295,915 and accrued interest of $32,223.