Convertible Promissory Notes	6 Months Ended
Jun. 30, 2015
Debt Disclosure [Abstract]
Convertible Promissory Notes	NOTE 5 – CONVERTIBLE PROMISSORY NOTES On January 15, March 29, April 16, August 13, and September 25, 2014, the following amounts were paid by a third party on behalf of the Company for legal, accounting and auditing services provided to Ceberus: $12,371 (legal), $9,500 (accounting) and $26,962 (auditing). On August 14, 2014 and September 26, 2014, Convertible Promissory Notes (“Notes”) in the amounts of $36,918 and $11,915, respectively, for a total of $48,833, were executed to memorialize the obligations of Orbis to repay the funds. The terms of the Notes are as follows: Principal and Interest Interest shall accrue on the unpaid principal balance and any unpaid late fees or other fees under these Notes at a rate of ten percent (10%) per annum until the full amount of the principal and fees has been paid. The entire unpaid principal balance and all accrued and unpaid interest, if any, under this Note, shall be due and payable on the date that is 180 days from the note date. Accrued interest payable at June 30, 2015 and December 31, 2014 amounted to $4,131 and $1,709, respectively. Interest expense for the three months and six months periods ended June 30, 2015 and 2014 was $1,218 and $2,422, respectively, as compared to interest expense of $0 for the same periods in 2014. On February 12, 2015, the Company defaulted on the $36,918 note and on March 25, 2015 the Company defaulted on the $11,915 note by failing to pay principal and accrued interest on the maturity dates. However, the lender has not provided notices of default and demand of payment to the Company in writing pursuant to the terms of the Convertible Promissory Notes. Payment Unless prepaid or converted in accordance herewith, all principal and accrued interest under these Notes are payable in one lump sum on the maturity dates of the Notes. All payments of interest and principal shall be (i) in lawful money of the United States of America, and (ii) in the form of immediately available funds. All payments shall be applied first to costs of collection, if any, then to accrued and unpaid interest, and thereafter to principal. Lender Optional Conversion to Shares Beginning on the date of issuance of these Notes, lender is entitled to convert all amounts due hereunder into shares of the Company’s Common Stock at the Conversion Price. Conversion rights shall terminate upon acceptance by lender of payment in full of principal, accrued interest and any other amounts due under this Note. Calculation The number of shares of the Company’s Common Stock to be issued upon conversion of these Notes shall be determined by dividing (x) the amount of principal and accrued and unpaid interest to be converted by (y) the Conversion Price then in effect. Conversion Price; Number of Shares The conversion price shall be computed by dividing the principal sum and any accrued interest outstanding on the Notes by the average volume weighted average price of the Company’s common stock over the seven (7) trading days prior to the Conversion Date and then multiplying the result by 80% (20% discount to market) or $0.01 whichever is greater (the “Conversion Price”), provided, however, that if no market exists, the Conversion Price shall be $0.01 per share.

Convertible Promissory Notes

6 Months Ended

Jun. 30, 2015

NOTE 5 – CONVERTIBLE PROMISSORY NOTES

On January 15, March 29, April 16, August 13, and September 25, 2014, the following amounts were paid by a third party on behalf of the Company for legal, accounting and auditing services provided to Ceberus: $12,371 (legal), $9,500 (accounting) and $26,962 (auditing). On August 14, 2014 and September 26, 2014, Convertible Promissory Notes (“Notes”) in the amounts of $36,918 and $11,915, respectively, for a total of $48,833, were executed to memorialize the obligations of Orbis to repay the funds. The terms of the Notes are as follows:

Principal and Interest

Interest shall accrue on the unpaid principal balance and any unpaid late fees or other fees under these Notes at a rate of ten percent (10%) per annum until the full amount of the principal and fees has been paid. The entire unpaid principal balance and all accrued and unpaid interest, if any, under this Note, shall be due and payable on the date that is 180 days from the note date. Accrued interest payable at June 30, 2015 and December 31, 2014 amounted to $4,131 and $1,709, respectively. Interest expense for the three months and six months periods ended June 30, 2015 and 2014 was $1,218 and $2,422, respectively, as compared to interest expense of $0 for the same periods in 2014. On February 12, 2015, the Company defaulted on the $36,918 note and on March 25, 2015 the Company defaulted on the $11,915 note by failing to pay principal and accrued interest on the maturity dates. However, the lender has not provided notices of default and demand of payment to the Company in writing pursuant to the terms of the Convertible Promissory Notes.

Payment

Unless prepaid or converted in accordance herewith, all principal and accrued interest under these Notes are payable in one lump sum on the maturity dates of the Notes. All payments of interest and principal shall be (i) in lawful money of the United States of America, and (ii) in the form of immediately available funds. All payments shall be applied first to costs of collection, if any, then to accrued and unpaid interest, and thereafter to principal.

Lender Optional Conversion to Shares

Beginning on the date of issuance of these Notes, lender is entitled to convert all amounts due hereunder into shares of the Company’s Common Stock at the Conversion Price. Conversion rights shall terminate upon acceptance by lender of payment in full of principal, accrued interest and any other amounts due under this Note.

Calculation

The number of shares of the Company’s Common Stock to be issued upon conversion of these Notes shall be determined by dividing (x) the amount of principal and accrued and unpaid interest to be converted by (y) the Conversion Price then in effect.

Conversion Price; Number of Shares

The conversion price shall be computed by dividing the principal sum and any accrued interest outstanding on the Notes by the average volume weighted average price of the Company’s common stock over the seven (7) trading days prior to the Conversion Date and then multiplying the result by 80% (20% discount to market) or $0.01 whichever is greater (the “Conversion Price”), provided, however, that if no market exists, the Conversion Price shall be $0.01 per share.

Orbis Corp 10-Q