Preferred and Common Stock

9 Months Ended

Sep. 30, 2016

Notes

Preferred and Common Stock

NOTE 5 - PREFERRED STOCK

On October 19, 2011, the Company filed Articles of Incorporation with the State of Utah so as to authorize 10,000,000 shares of preferred stock having a par value of $0.001 per share.  No preferred shares are issued or outstanding at September 30, 2016.

NOTE 6 - COMMON STOCK

In February 2016, the Company entered into a stock subscription agreement with an investor for them to purchase up to 17,500 shares of common stock at a price of $0.40 per share. In February 2016, the Company received $7,000 for the Stock Subscription Payable.

In March 2016, the Company entered into a stock subscription agreement with an investor for them to purchase up to 100,000 of common stock at a price of $0.40 per share. In March 2016, the Company received $100,000 for the Stock Subscription Payable.

On April 21, 2016, the Company issued 267,500 shares of its restricted common stock in full satisfaction of all obligations under the stock subscription agreements then outstanding.

On June 13, 2016, the directors of the Company entered into an amended consulting agreement and authorized the issuance of 2,500,000 shares of its restricted common stock in payment of those services.  The agreement covers services to be provided through October 2016.  The stock issued has a valuation, based on the closing price of the date of authorization, of $1,000,000.  Of that amount, $773,371 was expensed in recognition of services received and the balance of $226,629 is recorded as a prepaid expense and will be amortized as the future services are rendered.

On July 18, 2016 the Company entered into a stock subscription agreement with an investor for them to purchase up to 157,500 shares of restricted common stock at $0.40 per share.  The agreement has an expiration date of August 1, 2017.  On July 18 and July 27, 2016 the Company received $1,000 and $1,500, respectively, under this agreement.

On August 5, 2016, Dr. Craig Morrison returned to the Company 2,000,000 shares of restricted common stock which is part of the 4,000,000 shares which had been issued to him for his services as a director and medical advisor.  The 2,000,000 shares of stock were retired at their par value of $2,000, reducing the number of shares issued and outstanding.