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Subsequent Events
12 Months Ended
Dec. 31, 2020
Notes  
Subsequent Events

NOTE 12 - SUBSEQUENT EVENT

 

On January 4, 2021, the Company entered into an agreement with the note holder of a certain related party notes payable dated February 5, 2020 to convert $200,000 of the principal balance of the note and to extend the payment date of the first interest payment of $54,993.87 to January 2, 2023. As consideration, the Company issued the noteholder 2,200,000 shares of common stock.

 

On January 6, 2021, the Company entered into a $275,000, 12% convertible note payable including an original issue discount of $25,000. As part of the note agreement the Company also granted the noteholder 982,861 shares of common stock valued $167,086. In addition the Company granted 152,000 five year warrants exercisable at $0.125 to a broker as a finder’s fee.

 

On January 8, 2021, the Company entered into a $125,000, 30% note payable due on June 8, 2021. Under the note the Company must make interest only payments of $3,125 starting on February 10, 2021 and continuing through maturity.

 

On March 12, 2021, the Company entered into a $101,125, 24% note payable due on July 12, 2021.

 

On March 3, 2021, the Company entered into a $25,000, 4% note payable due on March 3, 2022. The note is convertible at the option of the noteholder at $0.10 per share.

 

On February 8, 2021, the Company entered into an agreement to consolidate two $50,000 notes payable dated September 17, 2018 and February 8, 2019 into one $100,000, 10% note due February 8, 2022 convertible at $0.10 per share. As consideration the Company is to issue the note holder 100,000 shares of common stock. As of the date of filing the shares have not been issued.

 

On February 4, 2021, the Company issued 2,175,000 shares for services.

 

On February 8, 2021, the Company sold 150,000 shares of common stock and 150,000 warrants for cash proceeds of $15,000.

 

On February 8, 2021, the Company issued 60,000 shares for services.

 

On February 17, 2021, the Company issued 116,320 shares in connection with shares due from a certain note payable dated January 25, 2019 and included in stock payable as of December 31, 2020.

 

On February 17, 2021, the Company issued 35,000 shares for services.

 

On February 17, 2021, the Company sold 1,500,000 shares of common stock and 1,500,000 warrants for cash proceeds of $150,000.

 

On February 24, 2021, the Company issued 500,000 shares to extend a certain note payable dated January 25, 2019.

 

On February 24, 2021, the Company sold 100,000 shares of common stock and 100,000 warrants for cash proceeds of $10,000.

 

On February 12, 2021, the noteholder of a certain note dated February 15, 2018, agreed to extend the maturity date of the note to February 15, 2022 for 50,000 shares of common stock. As of the date of filing the shares have not been issued.

 

On February 24, 2021, the Company issued 3,900,000 shares for services.

 

On March 17, 2021, the Company sold 2,000,000 shares of common stock for cash proceeds of $200,000.

 

On April 20, 2021, the noteholder of a certain note dated May 2, 2017, agreed to extend the maturity date of the note to May 2, 2022 for 100,000 shares of common stock. As of the date of filing the shares have not been issued.

 

On April 30, 2021, the noteholder of a certain note dated May 2, 2017, agreed to extend the maturity date of the note to May 1, 2022 for 100,000 shares of common stock. As of the date of filing the shares have not been issued.

 

On June 1, 2021, the noteholder of a certain note dated January 1, 2020, agreed to extend the maturity date of the note to June 1, 2022. In addition, the note was amended to allow for the note holder to covert the note at $0.10 per share. As consideration the Company granted the noteholder 1,000,000 three year warrants exercisable at $0.125.

 

On July 6, 2020 we received a letter from the staff of the Division of Enforcement of the Securities and Exchange Commission (the “Staff”) that indicated the Company may have violated certain rules and regulations regarding a late filing notification filed by the Company and that the Staff is conducting an informal inquiry into the matter. On April 29, 2021, the Company agreed to pay civil penalties of $25,000 to the Securities and Exchange Commission in settlement of the matter. Payment shall be made in the following four installments: (1) $5,000 within 14 days of entry of the order; (2) $7,500 within 180 days of entry of the order; (3) $6,250 within 270 days of entry of the order; and (4) $6,250 within 360 days of entry of the order.

 

On June 15, 2021, the Company sold 1,500,000 shares of common stock for cash proceeds of $150,000 which was received during the year ended December 31, 2020 and included in stock payable.

 

On June 15, 2021, the Company sold 792,590 shares of common stock for cash proceeds of $79,259.

 

On June 15, 2021, the Company issued 41,600 shares of common stock, in connection with an additional $20,800 advance received on March 3, 2021 related to a certain note payable dated January 25, 2019.