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Subsequent Events
12 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Note 12 - Subsequent Events

Issuance of Convertible Debt

 

On October 10, 2017 JSJ Investments purchased three notes from Essex Global Investments and created a replacement note to the Company in the amount of $154,976.99 with 8% interest and a maturity date of July 3, 2018.

 

On October 10, 2017 JSJ Investments purchased $75,000 of the Multichip Display Inc. note and created a replacement note to the Company in the amount of $86,490.41 with 8% interest and a maturity date of July 12, 2018. This note was subsequently full converted and the note returned as Paid in Full.

 

On October 10, 2017 the Company borrowed Seventy Five Thousand dollars ($75,000) from JSJ with 8% interest and a maturity date of June 28, 2018

 

On October 18, 2017 Fidelis Capital purchased $28,500 of an Essex Global Investments note with $1,631.92 in interest due, which they subsequently converted and return marked Paid in Full.

 

On October 21, 2017 Power Up Lending Group purchased $34,784.90 of the MDI note which full paid off MDI. Power Up Lending Group subsequently converted the note and return it marked Paid in Full.

 

On October 26, 2017 Power Up Lending Group purchased 2 notes from Essex Global Investments in the amounts of $45,000 and $55,000. Power Up Lending Group subsequently converted the $45,000 note and return it marked Paid in Full. They have converted $31,520of the $55,000 note leaving a current balance of $23,480 plus interest to be paid or converted.

 

On November 3, 2017 the Company borrowed Fifteen Thousand dollars ($15,000) from Multichip Display Inc. on a twelve and one-half percent (12.5%) interest convertible note due November 3, 2018. The note is convertible at 50% of the lowest market price on the twenty five days preceding conversion.

 

On November 16, 2017 the Company borrowed Five Thousand dollars ($5,000) from Multichip Display Inc. on a twelve and one-half percent (12.5%) interest convertible note due November 16, 2018. The note is convertible at 50% of the lowest market price on the twenty five days preceding conversion.

 

On November 16, 2017 the Company borrowed Forty Three Thousand dollars ($43,000) from Power Up Lending Group on a twelve percent (12%) interest convertible note due August 30, 2018. The note is convertible at 55% of the lowest market price on the twenty days preceding conversion.

 

On November 20, 2017 the Company borrowed Five Thousand dollars ($5,000) from Multichip Display Inc. on a twelve and one-half percent (12.5%) interest convertible note due November 20, 2018. The note is convertible at 50% of the lowest market price on the twenty five days preceding conversion.

 

Issuance Stock

 

On October 8, 2017 the Company issued 10,000,000 shares of Preferred stock with super voting rights where in the issued has votes equal to 100.1% of all outstanding shares.

 

On November 29 the Board of Directors approved an increase is authorized shares from 1,510,000 to 10,010,000,000 in order to meet the terms of the notes for a share reserve adequate to meet the conversion of the notes. A preliminary 14c was filed with the SEC and this increase was approved by the State of Nevada on December 6, 2017. No objections were received from the SEC.

 

Refinancing Activity

 

In December 2017 the Company initiated activities to secure sufficient funding to liquidate the convertible notes, provide funds for working capital, and establish a line of credit. The Company is engaged in discussions with existing lenders and new investors to secure this financing under terms that will allow the Company to continue it’s growth, stock adequate inventory, expand it’s sales efforts, and stabilize it’s stock value.