XML 35 R16.htm IDEA: XBRL DOCUMENT v2.4.0.8
(10) Subsequent Events
9 Months Ended
Sep. 30, 2013
Notes  
(10) Subsequent Events

(10)           Subsequent Events

 

The Company has evaluated events subsequent to September 30, 2013, pursuant to ASC Topic 855 to include the following:

 

On October 18, 2013, a convertible debenture entered into with Asher Enterprises dated 4/19/13 for $32.5k was paid off by the Company.

 

On October 14, 2013 the Company entered into an 8% $37,500 convertible debenture with Asher Enterprises. Conversions are based on variable pricing at 44% discount to market.

 

On October 3, 2013 the Company entered into a 12 month 8% $7,500 convertible debenture with Chevelle Freeman. Conversions are based on variable pricing at 44% discount to market.

 

On October 3, 2013 the Company entered into a 12 month 14% $50,000 convertible debenture with Cynthia Gibbs.  Conversions are based on a fixed rate of $0.002.

 

On October 2, 2013 the Company entered into a 12 month 14% $75,000 convertible debenture with Clara Batiste.  Conversions are based on a fixed rate of $0.002.

 

On October 25, 2013 the Company entered into a securities transfer agreement and convertible debenture with LG Capital Funding, for a $50,000 promissory note to Curtis and Janet Threat dated 4/2/13.  The debenture is for 12 months with an 8% interest rate.  Conversions are based on a 50% discount to market.

 

On October 23, 2013 the Company entered into a 6% redeemable convertible debenture with Gel Properties under a private investment with provisions for funding up to $155k over a 24 month period.  An upfront investment of $50,000 was funded to the company on 10/25/13.  The remaining $105,000 is to be funded in $35,000 tranches and secured by the note holder with cash.  Conversions are based on a 40% discount to market.

 

 

On October 25, 2013 the Company entered into a 12 month 8% $52,000 convertible debenture with LG Capital funding.  Conversions are based on a 50% discount to market.

 

On October 3, 2013 the company entered into a consulting arrangement with Carol Litchhult for business consulting services.  The agreement provides for 1 million shares of free trading stock to be issued under the Company’s Stock Incentive plan and 1.5 million shares of restricted common stock.

 

On October 1, 2013 the Company entered into a 12 month agreement with Jason Carter for business and relationship consulting services.  The agreement provided for 3million shares of free trading stock under the Company’s Stock Incentive plan and 5million shares of restricted stock.

 

Subsequent to September 30, 2013 the Company issued 90,487,850 shares of stock as a result of conversions of outstanding convertible debt.