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Capital Stock
9 Months Ended
Sep. 30, 2019
Equity [Abstract]  
CAPITAL STOCK

NOTE 11 – CAPITAL STOCK

 

Preferred Stock

 

The Company is authorized to issue 10,000,000 shares of blank check preferred stock, par value $0.001 per share.

 

On July 2, 2019, the Company authorized the issuance of 6,000 Series A preferred stock, par value $0.001 per share. The Certificate of Designation for the Series A preferred stock was filed on July 9, 2019.

 

On July 2, 2019 and July 11, 2019, the Company entered into exchange agreements with certain stockholders pursuant to which it exchanged warrants issued in July 2018 to purchase an aggregate of 26,000,000 shares of the Company's common stock for an aggregate of 6,000 shares of Series A Preferred Stock.

 

From July 5, 2019 to September 19, 2019, the Company issued an aggregate of 80,000,000 shares of common stock upon the conversion of 3,200 shares of Series A Preferred Stock.

  

On June 24, 2019, the Company authorized the issuance of 2,000 shares of Series B Convertible Preferred Stock, par value $0.001 per share. The Certificate of Designation for the Series B Convertible Preferred Stock was filed on July 9, 2019.

 

As of September 30, 2019, there were 516 shares of Series B Convertible Preferred Stock recorded as to be issued for cash consideration of $645,000.

  

On July 16, 2019, the Company authorized the issuance of 1,000 Series C preferred stock, par value $0.001 per share. The Certificate of Designation for the Series C preferred stock was filed on July 19, 2019.

 

Common Stock

 

The Company is authorized to issue 500,000,000 shares of common stock, par value $0.001 per share. As of September 30, 2019, there were 353,597,045 shares of common stock issued and outstanding.

 

The following common stock transactions were recorded during the nine months ended September 30, 2019:

 

The Company issued an aggregate of 80,000 shares of its common stock recorded as to be issued on December 31, 2018 for a cash warrant exercise.

 

The Company issued an aggregate of 1,591,240 shares of its common stock as interest expense with a value of $36,830.

 

The Company issued 5,553,191 shares of its common stock to satisfy a true-up provision with a value of $22,213.

 

The Company issued an aggregate of 2,950,000 shares of its common stock and recorded an additional 2,550,000 shares as to be issued, having an aggregate fair value of $198,700, for services rendered.

  

The Company issued an aggregate of 3,997,661 shares of its common stock upon the cashless exercise of outstanding warrants.

 

The Company issued 9,000,000 shares for the settlement of a warrant provision.

 

The Company issued an aggregate of 1,555,160 shares of its common stock and recorded an additional 1,126,250 shares of common stock as to be issued for the cash exercise of warrants for proceeds of $172,950.

 

The Company issued an aggregate of 78,913,321 shares of its common stock for the settlement of convertible debt with a principal amount of $786,838.

 

The Company issued an aggregate of 1,250,000 shares of its common stock as origination shares with a principal amount of $141,333.

 

The Company issued an aggregate of 80,000,000 shares of common stock upon the conversion of 3,200 shares of Series A Preferred Stock.