Annual report pursuant to Section 13 and 15(d)

SUBSEQUENT EVENTS

v3.19.1
SUBSEQUENT EVENTS
12 Months Ended
Dec. 31, 2018
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS
18 SUBSEQUENT EVENTS

 

On January 16, 2019 the Company received a conversion notice from Crown Bridge Partners LLC, converting $8,085, consisting of $7,585 of principal and $500 of fees on a convertible note issued on February 27, 2018, into 490,000 shares of common stock at a conversion price of $0.0165 per share. The company made a loss on conversion of $13,965.

 

On January 17, 2019, the Company received a conversion notice from Labrys fund, LP, converting $12,585, consisting of $11,961 of principal and $625 of interest on a convertible note issued on June 22, 2018 into 570,000 shares of common stock at a conversion price of $0.02208 per share. The company made a loss on conversion of $13,064.

 

On January 23, 2019, the Company issued a Convertible Promissory Note in the aggregate principal amount of $92,884 to BOBA Management Corporation to assume a Power up Note dated July 20, 2018. The note has a maturity date of January 23, 2020. The outstanding principal amount of the note is convertible after 180 days, at the election of the holder into shares of the Company’s common stock at a conversion price equal to 60% of the lowest three trading prices during the previous ten (10) trading days.

 

On January 25, 2019, the Company received a conversion notice from Labrys fund, LP, converting $13,748, consisting of $13,542 of principal and $206 of interest on a convertible note issued on June 22, 2018, into 700,000 shares of common stock at a conversion price of $0.0196398 per share. The company made a loss on conversion of $10,052.

 

On January 28, 2019, the Company received a conversion notice from JSJ Investments, converting $25,000 of principal on a convertible note issued on July 26, 2018, into 1,459,427 shares of common stock at a conversion price of $0.01713 per share. The company made a loss on conversion of $18,783.

 

On January 30, 2019, the Company received a conversion notice from Labrys fund, LP, converting $19,992, consisting of $19,888 of principal and $114 of interest on a convertible note issued on June 22, 2018, into 1,176,000 shares of common stock at a conversion price of $0.0169998 per share. The company made a loss on conversion of $19,992.

 

On February 4, 2019, the Company received a conversion notice from Labrys fund, LP, converting $26,440, consisting of $26,347 of principal and $92 of interest on a convertible note issued on June 22, 2018, into 2,000,000 shares of common stock at a conversion price of $0.0132198 per share. The company made a loss on conversion of $31,560.

 

On February 4, 2019, the Company issued a Convertible Promissory Note in the aggregate principal amount of $96,000 to GS Capital Partners LLC. The note has a maturity date of February 4, 2020 and a coupon of 8% per annum. The Company may not prepay the note. The outstanding principal amount of the note is convertible after 180 days, at the election of the holder into shares of the Company’s common stock at a conversion price equal to 62% of the lowest three trading prices during the previous ten (10) trading days.

 

On February 6, 2019, the Company received a conversion notice from Crown Bridge Partners LLC, converting $11,900, consisting of $11,400 of principal and $500 of fees on a convertible note issued on May 14, 2018 into 1,000,000 shares of common stock at a conversion price of $0.0119 per share. The company made a loss on conversion of $20,100.

 

On February 7, 2019, the Company received a conversion notice from Labrys fund, LP, converting $39,659, consisting of $39,621 of principal and $38 of interest on a convertible note issued on June 22, 2018 into 3,000,000 shares of common stock at a conversion price of $0.0132198 per share. The company made a loss on conversion of $59,341.

  

On February 8, 2019, the Company received a conversion notice from JSJ Investments, converting $45,000 of principal on a convertible note issued on July 26, 2018, into 3,008,423 shares of common stock at a conversion price of $0.015 per share. The company made a loss on conversion of $45,253.

 

On February 12, 2019, the Company received a conversion notice from Crown Bridge Partners LLC, converting $10,595, consisting of $8,515 of principal, $1,580 of interest and $500 of fees on a convertible note issued on May 14, 2018 into 890,300 shares of common stock at a conversion price of $0.0119 per share. The company made a loss on conversion of $15,224.

 

On February 13, 2019, the Company received a conversion notice from Labrys fund, LP, converting $18,292, consisting of $18,268 of principal and $24 of interest on a convertible note issued on June 22, 2018, into 1,524,334 shares of common stock at a conversion price of $0.012 per share. The company made a loss on conversion of $25,914.

 

On February 19, 2019, the Company received a conversion notice from GS Capital, converting $16,996, consisting of $16,000 of principal and $996 of interest on a convertible note issued on May 11, 2018, into 1,038,364 shares of common stock at a conversion price of $0.0164 per share. The company made a loss on conversion of $10,002.

 

On March 4, 2019, the Company funded a back-end Convertible Promissory Note in the aggregate principal amount of $96,000 from GS Capital Partners LLC. The note has a maturity date of February 4, 2020 and a coupon of 8% per annum. The Company may not prepay the note. The outstanding principal amount of the note is convertible after 180 days, at the election of the holder into shares of the Company’s common stock at a conversion price equal to 62% of the lowest three trading prices during the previous ten (10) trading days. 

 

On March 11, 2019, the Company received a conversion notice from JSJ Investments, converting $34,533, consisting of $30,000 of principal and $4,533 of interest on a convertible note issued on July 26, 2018, into 3,836,955 shares of common stock at a conversion price of $0.009 per share. The company made a loss on conversion of $42,207.

 

On March 15, 2019, the Company received a conversion notice from Crown Bridge Partners LLC, converting $10,200, consisting of $9,700 of principal, and $500 of fees on a convertible note issued on February 27, 2018 into 1,700,000 shares of common stock at a conversion price of $0.006 per share. The company made a loss on conversion of $23,800.

 

On March 20, 2019, the Company received a conversion notice from GS Capital, converting $19,235, consisting of $18,000 of principal and $1,235 of interest on a convertible note issued on May 11, 2018, into 1,982,361 shares of common stock at a conversion price of $0.009703 per share. The company made a loss on conversion of $16,448.

 

On March 29, 2019, the Company issued a Convertible Promissory Note in the aggregate principal amount of $75,000 to JSJ Investments, Inc. The note has a maturity date of March 29, 2020 and a coupon of 8% per annum. The Company may prepay the note at a premium ranging from 120% to 140% of the principal plus accrued interest. The outstanding principal amount of the note is convertible after 180 days, at the election of the holder into shares of the Company’s common stock at a conversion price equal to 60% of the lowest three trading prices during the previous ten (10) trading days.

 

Other than disclosed above, The Company has evaluated subsequent events through the date the consolidated financial statements were available to be issued and has concluded that no such events or transactions took place that would require disclosure herein.