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Capital Changes
12 Months Ended
Dec. 31, 2019
Notes  
Capital Changes

 

NOTE 9 – Capital Changes

 

Common Stock

 

On December 31, 2018 we entered into a Share Exchange Agreement (the “Agreement”) with High Sierra Technologies, Inc., a Nevada corporation (“High Sierra”) and all of the shareholders of High Sierra, pursuant to which we acquired 100% of the issued and outstanding shares of common stock of High Sierra (the “Share Exchange” or “Acquisition”).  The Acquisition of High Sierra was consummated on the same date, and High Sierra is now a wholly-owned subsidiary of the Company. As consideration for the Share Exchange, we issued a total of 15,433,025 shares of our common stock to the High Sierra shareholders.

 

The Company issued 15,433,025 shares of its common stock at $.001 per share for a total of $25,083, during the period ended December 31, 2018 of which $12,250 was paid for in cash, $7,683 was paid by the contribution of certain intangibles, $5,150 was for services.

 

The Company issued 100,000 shares of its common stock for consulting services on May 26, 2019 valued at $100,000, which was the fair market value of the stock.  This agreement was rescinded and the shares of common stock were returned on December 30, 2019.

 

The Company issued 100,000 shares of its common stock for product (seeds) on May 26, 2019 valued at $100,000, which was the fair market value of the stock.  This agreement was rescinded and the shares of common stock were returned on December 30, 2019.

 

Offering of Securities

 

The Company filed an S-1 Registration Statement on June 10, 2019.  The Company is offering a maximum of 3,500,000 shares of our common stock, and (ii) the resale by certain Selling Stockholders of the Company of up to 2,500,500 shares of common stock held by Selling Stockholders of the Company. 

 

The Company is offering these securities at a price of $2.50 per share and would result in gross proceeds to the Company of $8,750,000.

 

The registration of securities was rescinded on a Post-Effective Amendment dated December 5, 2019.