XML 36 R23.htm IDEA: XBRL DOCUMENT v2.4.0.8
17. SUBSEQUENT EVENTS
9 Months Ended
Sep. 30, 2013
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

Subsequent to the period ended September 30, 2013, the Company incorporated Charlie’s Club, Inc. (“Charlie’s Club”), a wholly-owned subsidiary under the laws of the State of Florida. Charlie’s Club will be primary operating subsidiary of the Company’s e-commerce sales initiative.

 

On October 8, 2013, the Company closed a private placement of $2,500 at a price of $0.05 per common share and issued 50,000 common shares.

 

On October 28, 2013, the Company's Board of Directors authorized the Company to re-issue the outstanding Unsecured Subordinated Convertible Debentures ("Debentures") at a conversion rate of $0.07 per share. The Company initially issued $425,000 Debentures at a conversion rate of $0.10 per share on September 3, 2013. All the other terms and conditions of the re-issued Debentures remained the same as the original issuance.