7.	SUBSEQUENT EVENTS

Management evaluated subsequent events as of the date of the financial statements pursuant to ASC TOPIC 855, and reported the following events:

Effective January 28, 2017, one of the tranches’ related to the securities dated January 28, 2016 (the “Tranche”), was amended to extend the maturity date for an additional sixty (60) months. The Tranche matures on January 28, 2022. The Tranche bears interest at a rate of 10% per annum and is convertible into shares of common stock of the Company at a price of the lesser of (a) the conversion price per the Notes, (b) Fifty Percent (50%) of the lowest trading price of the Company’s common stock recorded on any trading day after the date of funding, or (c) the lowest effective price per share granted to any person or entity, including the investor but excluding officers and directors of the Company, after the date of funding to acquire common stock of the Company, or adjust, whether by operation of purchase price adjustment, settlement agreements, exchange agreements, reset provision, floating conversion or otherwise, any outstanding warrant, option or other right to acquire common stock of the Company or outstanding common stock equivalents.

Effective February 3, 2017 (the “February Effective Date”), the Company issued a convertible promissory note (the “Note”) in the aggregate principal amount of $500,000 to an accredited investor, of which $60,000 was advanced upon issuance of the Note. The principal and interest under the Note is due and payable twelve (12) months from the funding of each tranche. The Note bears interest at a rate of 10% per annum and is convertible into shares of common stock of the Company at a price of the lesser of (a) $0.01 per share of the Company’s common stock , (b) Fifty Percent (50%) of the lowest trading price of the Company’s common stock recorded on any trading day after the date of funding, or (c) the lowest effective price per share granted to any person or entity, including the investor but excluding officers and directors of the Company, after the date of funding to acquire common stock of the Company, or adjust, whether by operation of purchase price adjustment, settlement agreements, exchange agreements, reset provision, floating conversion or otherwise, any outstanding warrant, option or other right to acquire common stock of the Company or outstanding common stock equivalents.