Quarterly report pursuant to Section 13 or 15(d)

Note 3 - Stockholders' Equity

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Note 3 - Stockholders' Equity
3 Months Ended
Mar. 31, 2017
Equity [Abstract]  
Note 3 - Stockholders' Equity

Common Stock

 

During the quarter ended March 31, 2017 the Registrant has issued a total of 91,064,060 shares of common stock to a total of eleven entities or individuals in exchange for the cancellation of debt in the total amount of $1,863,000 and interest in the total amount of $442,000. 

 

The Registrant also issued 583,333 shares of common stock to one entity upon the exercise of warrants on a cashless basis. 

 

Preferred Stock

 

On January 8, 2016 the Company entered into an Exchange Agreement with certain investors together holding 25,000 shares of Series H Preferred Stock and 1,666,667 shares of Series I Preferred Stock have agreed to convert all such shares of Preferred Stock into an aggregate of 4.9% of the fully diluted shares of Common Stock upon successful completion by the Company of a $6 million financing.