Note 13 - Common Stock

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Note 13 - Common Stock

a) On February 4, 2015, the board of directors of the Company approved a 1,000 to 1 reverse stock split of the Company’s common stock which resulted to the increase in the par value of the Company’s common stock from $0.00001 to $0.01. All common stock amounts have been retroactively adjusted for all periods presented.

b) On May 15, 2015, the Company issued 1,000,000 shares of common stock with a fair value of $200,000 pursuant to the Advisory Board Consulting and Compensation Agreement as described in Note 11(b).

c) On July 6, 2015, the Company issued 25,000 shares of common stock with a fair value of $5,000 pursuant to the Director Agreement.

d) On September 18, 2015, the Company issued 18,000 shares of common stock with a fair value of $54,000 pursuant to the consulting agreement. On November 24, 2015, the consulting agreement was terminated. During the year ended December 31, 2015, the Company reversed the fair value of $54,000 recognized as general and administrative expense as the Company entered into a Mutual Release agreement pursuant to which the 18,000 shares of common stock were cancelled.

e) On September 18, 2015, the Company issued 6,000 shares of common stock with a fair value of $18,000 pursuant to the consulting agreement.

f) On September 21, 2015, the Company issued 1,000,000 shares of common stock with a fair value of $200,000 to PRM upon receipt of written notice from PRM pursuant to the Subsidiary Agreement as described in Note 15(a).

g) During the year ended December 31, 2015, the Company issued 413,669 post-split shares of common stock at $3 per share for cash proceeds of $1,241,003.

h) During the year ended December 31, 2015, the Company authorized the sale of 1,037,297 post-split shares of common stock and received total proceeds of $1,819,502.

i) During the year ended December 31, 2015, the Company issued 171,040 post-split shares of common stock in exchange for real estate properties with a fair value of $300,000.

j) On January 1, 2016, the Company cancelled 1,397 shares of common stock due to rounding errors in share issuances from year ended December 31, 2015.

k) On August 1, 2016, issued 439,401 shares of common stock with a fair value of $1,318,203 to PRM, pursuant to a Designation and Acceptance of Rights entered into between PRM, the Company, and the former CFO and the employment agreement as disclosed in Note 11(c).

l) On April 11, 2016, the Company issued 722,883 shares of restricted common stock of the Company with a fair value of $1,085,725 in exchange for real estate properties.

m) On April 4, 2016, the Board of Directors approved a Stock Repurchase Program. The Stock Repurchase Program became effective on April 5, 2016 and will allow the Company to repurchase up to $2,000,000 of its common stock.  The Stock Repurchase Program expires on the earlier of November, 1, 2016 or a determination by the Board of Directors that the original conclusions and determinations by the Board of Directors in support of the Stock Repurchase Program are no longer valid or no longer consistent with the Company’s short-term and long-term objectives. As of November 1, 2016, the expiry of the Stock Repurchase Program, the Company had not repurchased any shares as part of the Stock Repurchase Program.

n) On July 15, 2016, the Company recognized stock-based compensation of $30,000 pursuant to the board director agreement as disclosed in Note 11(f). The fair value of $30,000 is included in additional paid-in capital as at December 31, 2016.

o) On July 20, 2016, the Company issued 25,000 shares of common stock with a fair value of $75,000 pursuant to the consultancy agreement as disclosed in Note 11(e).

p) On July 20, 2016 and July 26, 2016, the Company issued an aggregate of 200,000 shares of common stock with a fair value of $600,000 pursuant to the employment agreements as disclosed in Note 15.

q) On July 21, 2016, the Company recognized stock-based compensation of $30,000 pursuant to the board director agreement as disclosed in Note 11(g). On October 31, 2016, the Company issued the 10,000 shares of common stock.

r) On July 22, 2016, the Company issued 25,000 shares of common stock to an employee of the Company with a fair value of $75,000.

s) On October 12, 2016, the Company issued 25,000 shares of common stock with a fair value of $37,500 pursuant to a transfer agent and registrar agreement.

t) On November 28, 2016, the Company issued 25,000 shares of common stock with a fair value of $15,000 pursuant to the agreement as disclosed in Note 15(c).

u) On November 8, 2016, the Company issued 300,026 shares of common stock upon conversion of 300,026 common units in the AHIT-Valfre UPREIT. Refer to Note 4.

v) On November 8, 2016, the Company issued 3,896 shares of common stock with a fair value of $6,819 pursuant to the Master UPREIT Formation Agreement as disclosed in Note 4.

w) During the year ended December 31, 2016, the Company issued 144,705 shares of common stock at $3 per share for cash proceeds of $434,100.

x) During the year ended December 31, 2016, the Company issued 159,100 shares of common stock at $1 per share for cash proceeds of $159,100.

y) During the year ended December 31, 2016, the Company received proceeds of $42,500 pursuant to stock subscription agreements, whereby the Company will issue 36,500 shares of common stock of the Company.