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NOTE 9 - SUBSEQUENT EVENTS
3 Months Ended
Mar. 31, 2015
Disclosure Text Block [Abstract]  
NOTE 9 - SUBSEQUENT EVENTS

NOTE 9 – SUBSEQUENT EVENTS

 

On April 1, 2015, we added a fifth member to our Advisory Board. See further discussion regarding the Advisory Agreements in Note 8.

 

On April 20, 2015, the Company entered into a stock purchase agreement with an unaffiliated accredited investor for the sale of 27,273 shares of common stock at $1.10 per share, resulting in total cash proceeds of $30,000. In determining the sale price of the shares, management took into consideration the fact that the shares include a lock-up agreement whereby those shares may not be sold for a period of 18 months and for a period commencing on the next day after the 18 month period and continuing for 12 consecutive 30 day periods, the investor shall not sell any shares, except in an amount not to exceed 8.33% of the total shares purchased.

 

In regards to the stock purchase agreement closed on March 31, 2015 discussed in Note 6 above, on May 8, 2015, the Buyer exercised his option to purchase the remaining shares under the stock purchase agreement and accordingly, we issued the Buyer an additional 60,000 shares of our common stock for cash proceeds of $60,000.