XML 46 R35.htm IDEA: XBRL DOCUMENT v3.8.0.1
Subsequent Events (Details Narrative)
1 Months Ended
Nov. 20, 2017
Subsequent Event [Member]  
Subsequent Event Description

Management has evaluated subsequent events up to and including November 20, 2017, which is the date the statements were available for issuance and determined there are no reportable subsequent events except the following:

On October 3, 2017, the Company entered into a Purchase Agreement to purchase a 46,060 square foot building in Carson City, Nevada (the “Property”) by or before November 4, 2017. The building is intended to serve as the Company’s new research and development laboratory with an indoor grow facility specifically for its industrial hemp genetics – the core of the Company’s business. The purchase price for the facility is $1,300,000. At November 20, the Company has not closed this transaction.

On October 16, 2017, the Company entered into an Investor Relations Agreement for a term of six months. The initial compensation was paid on October 16, 2017 with the payment of $5,000. In addition, the Company issued 360,000 shares of common stock on October 20, 2017. The Company also agreed to continue to pay $5,000 per month starting on November 16, 2017 and continuing until March 16, 2018 for a total of $30,000.

On October 25, 2017, the Company issued 10,000 shares of common stock pursuant to the consulting agreement as discussed in Note 11(h).

On October 27, 2017, the Company issued 25,000 shares of common stock upon the exercise of 25,000 options. See Note 11(f).

On November 1, 2017, the Company entered into three consulting agreements for a term of six months. Pursuant to the agreements, the Company agreed to issue 700,000 shares of common stock to each consultant. 1,400,000 of the 2,100,000 shares were issued on November 8, 2017. The remaining 700,000 shares have not been issued as at November 9, 2017.(might need to update before filing)

On November 1, 2017, the Company and David Lamont Manaway and Juhuru Holdings, Ltd. (collectively, the “Selling Shareholders”), closed on their Agreement for Sale of Shares of Pharmaceutical Development Company (Pty), Ltd., a company incorporated under the laws of the Kingdom of Lesotho (“PDC”). The transaction had been approved by the Board of Directors on October 30, 2017. In consideration for the issuance of 1,300,000 shares of restricted common stock in the Company and $200,000, the Company acquired 1,000 shares of common stock from the Selling Shareholders resulting in PDC being a wholly-owned subsidiary of the Company. On November 1, 2017, the Company issued 1,300,000 shares to the Selling Shareholders.

On November 6, 2017, the Company issued 1,000 shares of common stock as finders fees in connection with a stock subscription agreement.

Subsequent to September 30, 2017, the Company sold 1 property for proceeds of $239,248.

Subsequent to September 30, 2017, the Company issued 375,000 shares for proceeds of $306,000.

Subsequent to September 30, 2017, the Company repaid $220,000 to Firstfire.(needs explanation from Michael on how the Company arrived at a repayment of $220,000 when the outstanding balance was only $115,000).