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NOTE 14 - SUBSEQUENT EVENTS
9 Months Ended
Sep. 30, 2019
Subsequent Events [Abstract]  
(14) SUBSEQUENT EVENTS

(14) SUBSEQUENT EVENTS

 

a) Convertible Notes - Variable Conversion

In the fourth quarter 2019, the Company entered into one convertible note in exchange for $50,000. This note matures in 9 months. This note carries an interest rate of 12%. The note converts into shares of the Company’s common stock at a price of 55% of the lowest trade price for the Common Stock during the 20 Trading Day period ending on the latest complete Trading Day prior to the Conversion Date. Based on the variable conversion terms the beneficial conversion rights embedded in these convertible notes has been recorded as a derivative liability in the amount of $43,364, with a related debt discount of $43,364, and an immediate loss of $0.

 

b) Stockholders’ Equity

Subsequent to September 30, 2019, the Company issued 195,941,704 shares of common stock as follows:

 

* 2.500,000 shares valued at $157,500 as a debt inducement

* 3,997,266 shares valued at $95,135 to settle $13,990 of debt with a fixed rate conversion

* 187,095,944 shares valued at $943,996 to settle $295,001 of debt with a variable rate conversion

* 2,348,494 shares for cash of $27,919.