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NOTE 11. RELATED PARTIES
9 Months Ended
Sep. 30, 2019
Related Party Transactions [Abstract]  
NOTE 11. RELATED PARTIES

NOTE 11. RELATED PARTIES

 

On May 2, 2017, the Pursglove judgement was reduced by $262,453 through the issuance of 250,000,000 shares of Series A Convertible 12% Cumulative Preferred stock. The Company also authorized and issued 206,250,000 shares of BCI’s Series A Convertible 12% Cumulative Preferred stock at a price of ($.001 par value) per share to The 2GP Group LLC an entity controlled by Geordan Pursglove, President, CEO and Director. The Series A Convertible 12% Cumulative Preferred stock include a three times (3x) voting preference.

 

 

On May 8, 2019, the Company issued a short-term convertible note payable for $54,000. The note had a sixty day term which was due on July 8, 2019 and bears interest at a rate of 15% per annum. The company is currently negotiating an extension with the noteholder as it is currently past due, however the note has no default provisions.