Stockholders Equity

9 Months Ended

Jun. 30, 2019

Stockholders Equity

NOTE 5 - Stockholders' Equity

Preferred Stock

The Company has authorized a total of 10,000,000 shares of preferred stock, par value $0.00001 per share. No preferred shares have been designated by the Company as of June 30, 2019 and September 30, 2018.

Common Stock

The Company is authorized to issue up to 500,000,000 shares of common stock (par value $0.00001). As of June 30, 2019 and September 30, 2018, the Company had 242,239,767 shares and 236,046,151 shares of common stock issued and outstanding, respectively.

During the nine months ended June 30, 2019, the Company sold 5,084,525 shares of the Company’s common stock at an average price of $0.1615 per share for an aggregate purchase price of $845,000, including 2,904,192 shares sold to a single investor for $485,000 during the three months ended June 30, 2019.

During the nine months ended June 30, 2019, the Company issued 509,091 shares of the Company’s common stock for the conversion of notes payable totaling $32,000, an average conversion rate of $0.082 per share, resulting in a loss on conversion of $9,818.

During the nine months ended June 30, 2018, the Company sold 3,208,586 shares of the Company’s common stock at an average price of $0.1100 per share for an aggregate purchase price of $352,909.

During the nine months ended June 30, 2018, the Company issued 50,000 shares of the Company’s common stock in payment of debt totaling $60,730.

Information with respect to the issuance of common stock in connection with various stock-based compensation arrangements is provided at Note 7.