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Note 4 - Marketing Agreements
9 Months Ended
Sep. 30, 2016
Notes  
Note 4 - Marketing Agreements

NOTE 4 – MARKETING AGREEMENTS

 

The Company signs marketing agreements with professional trainers and athletes to help promote the Company's products and services.  During the quarter ended September 30, 2016, the Company entered into a three-year marketing agreement with Neymar Jr, a professional soccer player out of Brazil.  Under the marketing agreement, the Company is required to pay 2,500,000 EUR in semiannual payments of 500,000 EUR (approximately $536,000) plus 2% royalty payments.  The Company also agreed to issue 418,825 shares to Neymar Jr. during the contract period.  The Company recorded the full amount of the agreement, including the issuance of shares, during the quarter ended September 30, 2016.  As of September 30, 2016, the Company amortized $103,583 and had a remaining prepaid of approximately $3,100,000. WKW03EXA»]