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SUBSEQUENT EVENTS
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
NOTE 11 - SUBSEQUENT EVENTS

Management has evaluated subsequent events pursuant to the requirements of ASC Topic 855, from the balance sheet date through the date the financial statements were available to be issued, and has determined that there are no additional material subsequent events existed.

 

On July 31, 2018, the Company executed a convertible promissory note with Auctus Fund, LLC for up to $1,500,000. Total consideration for Note is up to $1,392,500 ($1.5mil less $107,500 OID). The note bears interest at 10% per annum and matures twelve months from the effective date of each tranche. The holder has the right at any time to convert any portion of the note and/or interest into shares of common stock at the lesser of 1) the lowest trade in the twenty-five days prior to conversion, or 2) 40% discount to the average of the two lowest trades during the previous twenty-five days of conversion. The first tranche of $420,000, net of $38,000 of OID and fees was received on August 7, 2018.