7. Convertible Note Payable	9 Months Ended
Sep. 30, 2016
Debt Disclosure [Abstract]
Convertible Note Payable	NOTE 7 - CONVERTIBLE NOTE PAYABLE On December 31, 2015, the Company sold convertible debentures at a price of $1,000 per convertible debenture to a related party for an aggregate of $250,000 (the “Convertible Debenture”). The debentures have a term of eighteen (18) months from December 31, 2015 (the “Maturity Date”), bear interest at a rate of 14% per annum, payable on the Maturity Date, shall be converted into common shares of the Corporation ("Debenture Shares") at the following conversion prices: $0.07 per share within six (6) months of issuance, $0.10 per share between six (6) to twelve (12) months, and $0.15 per share between twelve (12) to eighteen (18) months. During the fiscal year ended December 31, 2015, the Company accounted for the beneficial conversion feature of the Convertible Debenture in the amount of $107,143, which was recorded as a discount and amortized over the life of the Convertible Debenture. As of September 30, 2016, the unamortized balance of the discount was $53,571 (December 31, 2015 - $107,143). Subsequent to year end, the maturity date has been extended indefinitely as per the allowances in the contractual agreement and interest will continue to accumulate until the debt has been discharged.

7. Convertible Note Payable

9 Months Ended

Sep. 30, 2016

NOTE 7 - CONVERTIBLE NOTE PAYABLE

On December 31, 2015, the Company sold convertible debentures at a price of $1,000 per convertible debenture to a related party for an aggregate of $250,000 (the “Convertible Debenture”). The debentures have a term of eighteen (18) months from December 31, 2015 (the “Maturity Date”), bear interest at a rate of 14% per annum, payable on the Maturity Date, shall be converted into common shares of the Corporation ("Debenture Shares") at the following conversion prices: $0.07 per share within six (6) months of issuance, $0.10 per share between six (6) to twelve (12) months, and $0.15 per share between twelve (12) to eighteen (18) months. During the fiscal year ended December 31, 2015, the Company accounted for the beneficial conversion feature of the Convertible Debenture in the amount of $107,143, which was recorded as a discount and amortized over the life of the Convertible Debenture. As of September 30, 2016, the unamortized balance of the discount was $53,571 (December 31, 2015 - $107,143). Subsequent to year end, the maturity date has been extended indefinitely as per the allowances in the contractual agreement and interest will continue to accumulate until the debt has been discharged.

SMARTCHASE CORP. 10-Q