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Note 6 - Stockholders' Deficit
6 Months Ended
Jun. 30, 2018
Notes  
Note 6 - Stockholders' Deficit

NOTE 6 - STOCKHOLDERS’ DEFICIT

 

The Company is authorized to issue an aggregate of 3,000,000,000 common shares with a par value of $0.0001 per share and 1,000,000 shares of preferred stock with a par value of $0.001 per share. No preferred shares have been issued.

 

On February 7, 2018 the Company elected to convert $2,000 of principal and interest of a non-redeemable convertible note due to The Cellular Connection Ltd. into 20,000,000 shares of common stock of the Company valued at $152,000 ($0.0076 per share) at a fixed conversion price of $0.0001 per share. The conversion resulted in a loss on settlement of debt of $150,000.

 

On February 7, 2018, the Company issued 25,000,000 shares of common stock valued at $190,000 ($0.0076 per share) to settle accrued liabilities for salary of $180,000 and shares to be issued of $10,000 due to the Nadav Elituv, the Chief Executive Officer of the Company.

 

On May 22, 2018 the Company elected to convert $2,600 of principal and interest of a non-redeemable convertible note due to The Cellular Connection Ltd. into 26,000,000 shares of common stock of the Company valued at $117,000 ($0.0045 per share) at a fixed conversion price of $0.0001 per share. The conversion resulted in a loss on settlement of debt of $114,400.

 

On May 22, 2018 the Company elected to convert $120,000 of principal and interest of a non-redeemable convertible note due to DC Design Inc. into 40,000,000 shares of common stock of the Company valued at $180,000 ($0.0045 per share) at a fixed conversion price of $0.003 per share. The conversion resulted in a loss on settlement of debt of $60,000.

 

On May 22, 2018, the Company issued 8,715,302 shares of common stock to settle shares to be issued (stock payable) valued at $922,218, which has been recorded over the contract period ended June 30,2018,   for stock based compensation due to the Nadav Elituv, the Chief Executive Officer of the Company.

 

On May 22, 2018, the Company issued 12,803,600 shares of common stock valued at $57,616 ($0.0045 per share) for accounts payable of $57,616.

 

On June 26, 2018, the Company issued 60,000,000 shares of common stock valued at $294,000 ($0.0049 per share) for the services to be provided in a period of June 26, 2018 to December 31, 2018.

 

Shares to be issued

 

As at June 30, 2018 and December 31, 2017, the Company had total shares to be issued of 0 shares of common stock and 5,031,092 shares of common stock, respectively, for stock-based compensation –salaries (see Note 5).