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Stockholders' Equity Note Disclosure
9 Months Ended
Sep. 30, 2019
Notes  
Stockholders' Equity Note Disclosure

 

 

NOTE 4 - COMMON STOCK AND COMMON STOCK WARRANTS

 

Common Stock

 

The Company has authorized a total of 400,000,000 Shares of Common Stock par value $0.0001 as of the December 31, 2017 audit for Elite Beverage International. However, Elite Performance Holding Corp. is now the successor company and as of September 30, 2019 now reflects 465,000,000 (Four Hundred Sixty-Five Million) shares authorized par value $0.0001. For the period ended December 31, 2017, the Elite Beverage International Corp. issued 100,000,000 shares of Common Stock for $19,000 to its management.

 

On February 2, 2018 Elite Performance Holding Corp., owned and controlled by Firestone and McKenzie, acquired Elite Beverage International through a 1:2 common share exchange as follows:

a). 50,000,000 common shares of Elite Performance Holdings Corp. in exchange for 100,000,000 common shares of Elite Beverage International Inc.

 

Shares to be Registered in the S-1 Registration Statement

  

As of September 30, 2019, the company has raised $507,000 ( 10,140,000 shares) through a  registered offering for $1,250,000  which was registered with the SEC through an S1 registration statement which went effective on April 23, 2019.

 

Restricted Shares issued

 

On November 9, 2018 we issued 40,000 shares of common stock at $.05 per share which were subscribed for on October 9, 2018 for $2,000. These shares are restricted, and subject to SEC Rule 144.

 

On December 13, 2018 the company issued 400,000 shares of restricted common stock for financing fees. These shares are restricted, and subject to SEC rule 144. We valued the shares at $.05 (price of the shares issued in the private placement) due to the lack of market activity and related price.

 

On December 18, 2018 we issued 250,000 shares of restricted common stock per an agreement with Carter, Terry & Associates. These shares are restricted, and subject to SEC rule 144. We valued the shares at $.05 (price of the shares issued in the private placement) due to the lack of market activity and related price.

 

On January 17, 2019 the Company issued 400,000 shares of common stock in consideration for the execution of a convertible note. These shares restricted and subject to SEC Rule 144. We valued the shares at $.05 (price of the shares issued in the private placement) due to the lack of market activity and related price.

 

On October 9, 2018 we received $2,000 for a subscription for 40,000 shares of common stock. As of September 30, 2019, these shares were unissued.

 

Restricted Shares to be issued

 

On October 22, 2018 we received $2,000 for a subscription for 40,000 shares of common stock. As of September 30, 2019, these shares were unissued.

 

As of September 30, 2019, we had 18,044,000 shares to be issued in the amount of $902,200 from stock subscriptions to accredited individuals.

 

On September 26, 2019 First Fire elected to convert the remaining balance of $124,715 of the note dated December 10, 2018 for restricted shares at .05 cents a share thereby retiring the original note in full, the total shares to be issued was 2,494,300, which were subsequently issued on July 8, 2019.

 

As of September 30, 2019, we had consulting agreements that had shares to be issued, for a total of 3,760,000 shares the vesting expense for these shares was $60,574 for the nine months ended September 30, 2019.

 

Common Stock Warrants

 

None.

 

NOTE 5 - PREFERRED STOCK

The Company has authorized a total of 35,000,000 Shares of Preferred Stock, $.0001 par value, which may be issued from time to time and bearing such rights, privileges and preferences as shall be designated by the Board of Directors.  As of December 31, 2017, Elite Beverage International Corp had issued 10,000,000 Shares of Preferred Stock, designated as series A “Cumulative Preference ‘A’, for $1,000.

10,000,000 Series A preferred which carries super voting rights. Each preferred share carries 20 votes.

 

On February 2, 2018 Elite Performance Holding Corp., owned and controlled by Firestone and McKenzie, acquired Elite Beverage International through a 1:1 preferred share exchange as follows. 10,000,000 Series A preferred shares of Elite Performance Holdings Corp. in exchange for 10,000,000 Series A preferred shares of Elite Beverage International Inc.