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SUBSEQUENT EVENTS
9 Months Ended
Nov. 30, 2019
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

18. SUBSEQUENT EVENTS 

 

Subsequent to November 30, 2019: 

   
convertible note holders converted $2,640 interest into 132,000,000 shares of the Company’s common stock.
   
the Company entered into a factoring loan on December 20, 2019 with a 10 week maturity totaling $12,400 including cash proceeds of $10,000 and $2,400 in interest and fees. Repayable $1,240 per week with 3,720 repaid to date.
   
The company has received an additional $60,500 in connection with the deferred variable payment obligation of November 18, 2019.
   
On December 30, 2019 the Company entered into an agreement with an investors whereby the investor would pay up to $100,000 in exchange for a perpetual 1% royalty on the Company’s reported quarterly revenue. These royalty payments are to be made 90 days after the fiscal quarter with the first payment being due no later than November 30, 2020. If the royalty payments would deplete RAD’s available cash by more than 1%, the payment may be deferred. The investors have agreed to and paid an initial investment of $50,000 (at a pro-rated 0.5% royalty) with an option to pay up to the remaining $50,000 , no later than June 30, 2020. If the total investment turns out to be less than $100,000, this would not constitute a breach of the agreement, rather the royalty rate would be adjusted on a pro-rata basis.
   
On January 6, 2020 the Company entered into a loan agreement for $4,000 with cash proceeds of $3,000 and an original issue discount of $1,000. The loan bears interest at 15%  per annum, and matures on October 6, 2020.