Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

v3.19.1
Subsequent Events
3 Months Ended
Mar. 31, 2019
Subsequent Events [Abstract]  
Subsequent Events

NOTE 14 – SUBSEQUENT EVENTS

 

The Company evaluated all material events through the date the financials were ready for issuance.

 

In April 2019, the Company sold securities in a self-directed offering in the aggregate amount of $200,000 at $0.30 per unit. Each unit consisted of 2 shares of restricted common stock (1,333,332 shares) and a five-year warrant to purchase 1 share of restricted common stock (666,666 warrant shares) at $0.20 per share.

 

On April 18, 2019, the Company issued a convertible note payable in the amount $150,000. This note bears interest at 10% per annum and matures on December 31, 2019. This note and accrued interest may convert into shares of common stock at $0.12 per share any time at the holder’s option or automatically upon maturity provided the 20-day volume weighted average price per share of the Company’s common stock upon maturity is at least $0.12 per share. This note was also issued with a detachable warrant to purchase 500,000 shares of stock at $0.20 per share.