XML 26 R11.htm IDEA: XBRL DOCUMENT v3.22.0.1
COMMON STOCK
12 Months Ended
Sep. 30, 2020
COMMON STOCK  
NOTE 5 - COMMON STOCK

On November 13, 2018, the Company entered into a $3,000,000 equity purchase agreement with Crown Bridge Partners. Under the terms of the agreement, the Company may put to the investor shares of the Company common stock in minimums of $10,000 to maximums of either $100,000 or 200% of the average trading volume, whichever is less. The agreement may be terminated at any time by the Company or when the total commitment of shares are sold by the Company to the investor. As part of the agreement, the Company issued 175,000 shares of its common stock at $0.75 per share as a commitment fee. The value of the transaction of $131,250 was expensed as a financing cost.

 

During the year ended September 30, 2019 the Company issued 175,000 shares of common stock for debt inducement with a value of $131,250.

 

During the year ended September 30, 2019 the Company issued 140,000 shares of common stock for the conversion of debt with a value of $4,900.

 

During the year ended September 30, 2020 the Company issued 800,000 shares of common stock with a value of $100,000 for note conversion.

 

During the year ended September 30, 2020 the Company issued 2,000,000 shares of common stock with a value of $40,000 for cash.

 

During the year ended September 30, 2020 the Company issued 257,736,366 shares of common stock with a value of $405,849 for the conversion of convertible debt. The conversion created an increase to paid in capital of $1,677.300 offset by reduction in derivative liability. The Company further determined the difference between the value of the issuance at date of issuance and the conversion price of the shares which increased the paid in capital by $2,406 with offset to debt extinguishment and interest.

 

During the year ended September 30, 2020 the Company issued 10,000,000 shares of common stock with a value of $40,000 for the inducement to extend a note payable. The shares have not been issued as of September 30, 2020 and are carried as a stock not issued.

 

During the year ended September 30, 2020 10,000,000 shares were returned by a related party to Treasury at par value.

 

The Company accounts for shares being issued when the stock subscription agreement is received and payment for the shares is received, not at the date the shares are issued to the shareholder by the Transfer Agent. Accordingly, there may be a difference between the shares accounted for in the Company’s financials verses the number reported by the Transfer Agent.