XML 29 R16.htm IDEA: XBRL DOCUMENT v3.8.0.1
10. Subsequent Events
12 Months Ended
Dec. 31, 2017
Notes  
10. Subsequent Events

10.  Subsequent Events

 

On February 20, 2018, the Board of Directors approved a Private Placement financing of up to $750,000 from the sale of equity units at a price of $0.14 per unit.  Each unit consists of one share of the Company’s common stock and one-half of one common share purchase warrant.  Each whole warrant entitles the holder to purchase one additional share of common stock of the Company at a price of $0.20 for a period of 12 months.   As of March 26, 2018, the Company has sold 2,050,000 units for a total amount of $287,000.

 

On February 26, 2018, Paul Beckman purchased 1,000,000 units for a total amount of $140,000. A portion of this purchase was utilized to retired Mr. Beckman’s convertible note payable of $100,000 in principal and $4,012 in accrued interest for a total of $104,012.