Stockholders' Equity (Deficit)

6 Months Ended

Mar. 31, 2020

Stockholders' Equity Note [Abstract]

Stockholders' Equity (Deficit)

Note 7. Stockholders’ Equity (Deficit)

Preferred Series A 

During the three months ended December 31, 2019, the Company entered into a settlement agreement with David Summers, the Company’s former CEO and a common stockholder. As part of this settlement, David Summers returned 5,800,000 Series A preferred shares to the Company which were cancelled. See Note 8 for additional information regarding the settlement.

Common stock issued for conversion of convertible notes payable 

During the three months ended December 31, 2019, the Company issued 39,833,749 shares of common stock upon the conversion of principal of $80,000 and accrued interest of $4,800. There was no gain or loss recognized as the conversion occurred in accordance with the original terms of the agreement. 

During the three months ended March 31, 2020, the Company issued 93,977,186 shares of common stock upon the conversion of principal of $66,000 and accrued interest of $3,960. There was no gain or loss recognized as the conversion occurred in accordance with the original terms of the agreement. 

Beneficial conversion feature 

During the six months ended March 31, 2020, the Company charged to additional paid-in capital the aggregate amount of $92,000 on connection with the beneficial conversion feature of notes payable.