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Note: 7. Memorandum of Understanding
3 Months Ended
Mar. 31, 2017
Notes  
Note: 7. Memorandum of Understanding

NOTE: 7. Memorandum of Understanding

 

On March 17, 2016, the Company entered into a non-binding Memorandum of Understanding (“MOU”) with CaiE Food Partnership Ltd. (“CaiE”) for the purpose of acquiring CaiE as a wholly owned subsidiary. The MOU anticipates that the Company will issue, subject to shareholder approval, a fully diluted 67% interest in its common stock in exchange for the securities of CaiE. The MOU further provides that CaiE lend the Company $50,000 on a convertible basis prior to the consummation of the transaction. CaiE has loaned the Company $50,000 as of the filing date of this report, on terms yet to be determined