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Note 9: Subsequent Events
3 Months Ended
Mar. 31, 2021
Disclosure Text Block [Abstract]  
Note 9: Subsequent Events

9. Subsequent Events

 

The Company evaluated its March 31, 2021, financial statements for subsequent events through the date the financial statements were issued and is aware of subsequent events that would require recognition or disclosure in its financial statements as provided below:

 

On April 14, 2021, an entity owned and controlled by our chief executive officer, received payment from a stockholder of the Company in the amount of $5,750, for services rendered by that entity for the Company.

 

On April 1, 2021, the Company entered into a credit agreement with one of its stockholders to secure funds to maintain operations. A loan of $10,360 was received pursuant to this agreement on April 7, 2021, and a credit note in even amount was provided to the lender.

 

On April 1, 2021, convertible promissory notes issued by the Company to CaiE Foods in exchange for the aggregate principal amount of $107,800 were in default given that amounts due were not paid or converted into equity, at the option of CaiE Foods, on maturity. The Company intends to settle all amounts due to CaiE Foods as part of a comprehensive settlement.

 

On April 1, 2021, the amendment to the Company’s articles of incorporation in order to increase authorized share capital, filed on March 15, 2021, with the Nevada Secretary of State, was made effective.