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Stock
12 Months Ended
Dec. 31, 2019
Stockholders' Equity Note [Abstract]  
Stock

NOTE 7 – Stock

 

Preferred Stock

 

Preferred stock consists of 100,000,000 shares authorized at $0.001 par value.  10,000,000 of these preferred shares have been separately allocated to Series 'A' Preferred which have voting and conversion right of 1 to 100 common shares. At December 31, 2019 and, 2018 there were -0- shares issued and outstanding.  

 

Common Stock

 

Common stock consists of 900,000,000 shares authorized at $0.001 par value.  On November 25, 2019 the board of directors approved a one-for-five (1-for-5) reverse stock split.  The reverse has been retrospectively accounted for at January 1, 2018 in the statements of changes in stockholders’ equity.  At December 31, 2019 and December 31, 2018, there were 15,270,588 and 15,261,718 shares issued and outstanding, respectively.  

 

During the year ended December 31, 2019, the Company issued 8,870 shares of common stock in exchange for product payment that was recorded in accounts payable in the amount of $16,156.  The fair value of the shares issued was based on the market price of the Company’s common stock on the measurement date.

 

During the year ended December 31, 2018, the Company issued 2,683 shares of common stock in exchange for product payment that was recorded in accounts payable in the amount of $11,807.  The fair value of the shares issued was based on the market price of the Company’s common stock on the measurement date which was an overpayment of the account payable to the vendor.  The overpayment of $998 is included in loss on liability settlement in the statement of operations at December 31, 2018.