NOTE 5 - CONVERTIBLE DEBENTURE/NOTES PAYABLE (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Convertible promissory note	$ 325,722	$ 280,722
Interest rate	10.00%
Convertible debentures January 6, 2015
Convertible promissory note	$ 6,000
Interest rate	8.00%
Terms	due on October 10, 2015 (in default) and is convertible into the Company’s common stock at the holder’s option, at the conversion rate of 50% of the average of the lowest three day trading price for twenty trading days immediately preceding the date of conversion.
Convertible debentures May 20, 2015
Convertible promissory note	$ 15,000
Interest rate	10.00%
Terms	due on demand and is convertible into the Company’s common stock at the maker’s option, at the conversion rate of 60% of the lowest trading price in the five days immediately preceding the date of conversion. Any amount of principal or interest on this Note which is not paid when due shall bear interest at the lesser of i) 10 percent (10%) per annum or ii) the maximum rate allowed under the applicable law until paid in full or until the Note is reinstated. Additionally in no event the floor price for the exercise can't go below $0.00004. If these notes are converted at this rate, the number of shares issued would be in excess of the authorized limit of share issuance. If the Borrower is unable to issue any shares under this provision due to the fact that there is an insufficient number of authorized and unissued shares available, the Holder promises not to force the Borrower to issue these shares or trigger an Event of Default, provided that Borrower takes immediate steps required to get the appropriate level of approval from shareholders or the board of directors, where applicable to raise the number of authorized shares to satisfy the Notice of Conversion. In the event of default the Company has to pay 150% time the sum of outstanding principal and accrued interest. The note also has prepayment penalty clause.
Convertible debentures June 16, 2015
Convertible promissory note	$ 31,500
Interest rate	8.00%
Terms	due on June 16, 2016 and is convertible into the Company’s common stock at the holder’s option, at the conversion rate of 60% of the average of the lowest three day trading price for ten trading days immediately preceding the date of conversion.

Fuelstream INC 10-Q