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Subsequent Events
12 Months Ended
Dec. 31, 2012
Subsequent Events [Abstract]  
Subsequent Events

NOTE 11 – SUBSEQUENT EVENTS

 

On January 4, 2013 the Company issued 2,000 Preferred C Series shares in consideration for a $5,000 investment received from a third party.

 

On January 28, 2013 and March 15, 2013, the Company issued 155,698,106 and 70,000,000 shares of its common stock, respectively, without restriction, for outsourced professional services.  The Company registered the common stock with the Securities and Exchange Commission on Form S-8 on September 14, 2012, with additional shares, registered under Form S-8 filed on January 23, 2013.

 

On February 6, 2013, the Company signed a convertible note with Asher Enterprises for $10,500 in proceeds. This note carries an annual percentage rate of 8% with a maturity date of November 11, 2013.

 

On February 8, 2013, through majority vote of the Board of Directors, the Board removed Elsa Desousa. The Board unanimously agreed that the services of Ms. Desousa were no longer required. The removal of Ms. Desousa also canceled the 25,000 Preferred C Series share that were initially issued to her on September 24, 2012.

 

On February 8, 2013, the Company terminated three consulting agreements with Richard Desousa, Kenneth Radcliffe and Ana Pastorfide. The services performed by these individuals did not satisfactorily benefit the Company’s strategic direction, and as a result, management deemed it no longer necessary to maintain these agreements.

 

On March 13, 2013, the Company delivered three Senior Secured Convertible Promissory Notes, in the respective principal amounts of $34,500, $35,000 and $40,000, for outsourced professional services.  All of such notes provide for interest at the rate of 12% per annum, are payable on demand, and provide for conversion at the 5-day average closing bid price multiplied by 3.

 

On February 8, 2013 the Company terminated a consulting agreement it had with 701877 Canada, Inc. for lack of performance, the consultant was originally issued 10,000 Preferred C Series shares on August 20, 2012, and these shares have been cancelled with this termination.

 

On February 20, 2013, the Company signed a convertible note with Asher Enterprises for $27,500 in proceeds. However, as of the date of this filing, this note has not yet been funded. The terms, once funded, state that the note carries and annual percentage rate of 8% with a maturity date of November 22, 2013.

 

On February 21, 2013 and March 9, 2013, Peter Hellwig returned 500,000,000 shares and 400,000,000 shares respectively of his 2 billion restricted common shares to treasury.

 

On March 9, 2013 the Company issued 300,000,000 shares of common its common stock to Ironridge Global in continued satisfaction of the 3(a)(10) Order for Approval of Stipulation for Settlement of Claims entered into between the Company and Ironridge Global on April 27, 2012.

 

On March 14, 2013 Asher Enterprises exercised its conversion rights on its note dated August 15, 2012 converting $8,200 of the $32,500 principle balance into 136,666,666 shares at $0.00006, leaving a remaining balance on the note of $24,300.

 

On March 15, 2013, the Board of Directors voted on the approval of a Change of Control in the management of the Company going forward. As a result, the, then current, Board of directors consisting of Peter Hellwig, Christian Breda and Kenji Katayama resigned their respective positions, and approved the appointment of Joseph C. Canouse as the sole Director and President and CEO of Stakool, Inc. and all of it operations.

 

In accordance with ASC 855-10, the Company has analyzed its operations subsequent to December 31, 2012 to the date these consolidated financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these consolidated financial statements.