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Note 15 - Subsequent Events
12 Months Ended
Dec. 31, 2013
Notes  
Note 15 - Subsequent Events

Note 15 – Subsequent Events

 

As more fully discussed in Note 1, we effected a reverse stock split of the Company’s common stock by a ratio of one-for-seven hundred fifty (1:750) and (b) reduce the number of authorized shares of common stock from 1,500,000,000 to 50,000,000.  The Financial Industry Regulatory Authority (“FINRA”) approved the reverse stock split effective January 13, 2014.

 

To fund our operations subsequent to December 31, 2013, we incurred additional indebtedness totaling $281,000, consisting of convertible promissory notes totaling $201,000 and short-term promissory notes and advances totaling $80,000.

 

Subsequent to December 31, 2013, we repaid indebtedness totaling $98,726.

 

                Subsequent to December 31, 2013, we have issued a total of 20,632,129 shares of our common stock: 39,668 shares for unissued common shares; 388 shares for rounding of reverse split shares; 16,200,000 shares to our founder, officers and directors for services valued at $972,000; 340,000 shares for consulting services valued at $20,400; and 4,052,073 shares for debt conversion of $60,529.

 

Subsequent to December 31, 2013, an investor exercised a contractual right to reset the conversion price of a December 2013 debt conversion, resulting in the principal amount of the related convertible debt increasing from $30,000 to $47,455.