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Share Exchange
12 Months Ended
Dec. 31, 2023
Share Exchange  
Share Exchange

NOTE 10 – Share Exchange

 

On July 13, 2023 the Company and RPI closed their share exchange agreement. The Company issued 8,500,000 shares of common stock in exchange for 51% of the outstanding common shares of RPI. The value of this exchange was $4,420,000 placed to goodwill.

 

Since RPI had no assets or operations the goodwill was immediately impaired and is shown in the statement of operations for the three and nine months ended December 31, 2023.

 

On November 14, 2023, the share exchange agreement was rescinded by all parties and the issued shares were returned.