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Subsequent Events
12 Months Ended
Sep. 30, 2019
Subsequent Events [Abstract]  
Subsequent Events [Text Block]

Note 10. Subsequent Events


Change of Corporate Domicile to Wyoming


On October 4, 2019, AngioSoma, Inc. (the “Company”) filed Articles of Continuance with the Secretary of State of Wyoming to continue its business in the state of Wyoming.  The Company filed its Certificate of Dissolution with the Secretary of State of Nevada on October 21, 2019 since it is no longer a Nevada corporation.  The Company undertook the necessary steps to notify the Financial Industry Regulatory Authority (“FINRA”) of the move from Nevada to Wyoming, and on October 28, 2019, FINRA notified the Company that FINRA has updated their system to reflect that the Company is now a Wyoming company.


Settlement Agreement


As of September 30, 2019, the Company was involved in litigation: Case No. 2018-48120; Somaceuticals, Inc. and AngioSoma, Inc. v. David Summers in the 151st District Court of Harris County, Texas. Dr. Summers provided scientific expertise to AngioSoma for a number of years, and there was a dispute regarding the ownership of several patents and other intellectual property. AngioSoma obtained a favorable settlement of the lawsuit on October 16, 2019, which resulted in the settlement of all claims of both parties along with (i) the assignment by the Company of certain technology and intellectual property to Dr. Summers, (ii) the assignment by Dr. Summers of any interest he owns in certain technology and intellectual property to the Company; and (iii) the assignment by Summers of 5,800,000 shares of Series A preferred stock of the Company to the Company.


Conversion of Notes Payable


On October 7, 2019, the holders of the convertible note payable dated April 1, 2019 elected to convert principal in the amount of $12,000 into 4,285,714 shares of the Company’s common stock at a price of $0.0028 per share.  There was no gain or loss recognized as the conversion occurred in accordance with the original terms of the agreement.


On October 15, 2019, the holders of the convertible note payable dated April 1, 2019 elected to convert principal in the amount of $16,900 into 6,500,000 shares of the Company’s common stock at a price of $0.0026 per share. There was no gain or loss recognized as the conversion occurred in accordance with the original terms of the agreement.


On October 22, 2019, the holders of the convertible note payable dated April 1, 2019 elected to convert principal in the amount of $16,100 and accrued interest in the amount of $2,700 into a total of 8,545,455 shares of the Company’s common stock at a price of $0.0022 per share. There was no gain or loss recognized as the conversion occurred in accordance with the original terms of the agreement.


On December 2, 2019, the holders of the convertible note payable dated May 21, 2019 elected to convert principal in the amount of $15,000 into 7,894,737 shares of the Company’s common stock at a price of $0.0019 per share. There was no gain or loss recognized as the conversion occurred in accordance with the original terms of the agreement.


On December 16, 2019, the holders of the convertible note payable dated May 21, 2019 elected to convert principal in the amount of $12,000 into 6,666,667 shares of the Company’s common stock at a price of $0.0018 per share. There was no gain or loss recognized as the conversion occurred in accordance with the original terms of the agreement.


On December 27, 2019, the holders of the convertible note payable dated May 21, 2019 elected to convert principal in the amount of $8,000 and accrued interest in the amount of $2,100 into a total of 5,941,176 shares of the Company’s common stock at a price of $0.0017 per share. There was no gain or loss recognized as the conversion occurred in accordance with the original terms of the agreement.


Annual Meeting


On October 25, 2019, AngioSoma, Inc. (‘The Company’, ‘We’, ‘Our’) held its 2019 Annual Shareholder Meeting at 9:00 A.M. CDT in the corporate office (the “Meeting”) and today announces the results of the Meeting as follows:


Alex Blankenship was reelected as the sole director to serve until the next annual meeting or until her successor is elected and qualified.


The chairman made the following statement that was adopted by the majority shareholder and made a part of the 2019 Annual Shareholder Meeting:


I’ve heard rumors that some people believe Brent Atwood, a permanently barred securities broker and unregistered investment advisor will become affiliated with the Corporation in some capacity other than shareholder. All shareholders and the public generally are strongly advised that management and the holder of majority shareholder vote have no intention of permitting Atwood to have any position with the Corporation. In addition to being barred for life as a broker and being an unregistered investment advisor, we are informed the Securities and Exchange Commission enforcement division has opened a file on Atwood for insider trading in the Corporation’s stock.


M&K CPAS PLLC was confirmed as the Company’s auditor and there was no discussion or vote on executive compensation.