Quarterly report pursuant to Section 13 or 15(d)

Note 5 - Subsequent Events

v3.7.0.1
Note 5 - Subsequent Events
3 Months Ended
Mar. 31, 2017
Subsequent Events [Abstract]  
Note 5 - Subsequent Events

Common Stock

 

During the second quarter of 2017 the Registrant has issued a total of 21,800,294 shares of common stock to a total of eleven entities or individuals in exchange for the cancellation of debt in the total amount of $148,753 and interest in the total amount of $35,444. 

 

Convertible Notes

 

In April 2017, the Company entered into a securities purchase agreement with two accredited investors to sell 10% convertible debentures with and an exercise price of the lesser of (i) $0.05 or (ii) the average of the three (3) lowest intra-day trading prices of the Common Stock during the 20 Trading Days immediately prior to the date on which the Notice of Conversion is delivered to the Company, with an initial principal balance of $170,000 and warrants to acquire up to 3,400,000 shares of the Company's common stock at an exercise price of $0.05 per share.