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SUBSEQUENT EVENTS
12 Months Ended
Dec. 31, 2024
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 8 - SUBSEQUENT EVENTS

   

Amended Related Party Note Payable 

 

On January 29, 2025, the Company entered into an amended and revised unsecured promissory note (“New Note”) with Coppermine. The new note revised the October 31, 2024 note for an amended principal balance of $485,163 and amended the maturity date to December 31, 2025. The new note is to provide for projected funding needs of the Company to pay for essential corporate maintenance expenses due in the first three fiscal quarters of 2025, necessary to meet the reporting and filing requirements under federal and state securities laws and regulations, maintenance of the quotation of the Company’s Common Stock on the OTC Markets Group QB Venture Market and maintenance of directors’ and officers’ insurance and basic management and accounting operations. The amended principal amount is intended to provide sufficient working capital to maintain the corporate existence of the Company while the executive management continues efforts to develop or acquire a new business line or revenue generating operation. On February 3, 2025, the Company received $111,363 of proceeds under the new note to funding working capital for the first quarter of 2025.

 

Renewal of CFO Agreement

 

On January 22, 2025, the Company renewed Ms. Perez’s contracting agreement for Chief Financial Officer services, commencing January 1, 2025, and ending upon mutual termination by either party, upon a 14-day notice.

 

Appointment of Directors

 

On January 9, 2025, Warren Session was appointed as an independent director of the Company.

 

On January 20, 2025, Brian Rosen was appointed as a non-employee director of the Company and on February 24, 2025, Mr. Rosen was appointed as a member of the Audit Committee.

 

Memorandum of Understanding with Coppermine

 

On March 13, 2025, the Company entered into a Memorandum of Understanding (“MOU”) with Coppermine whereby the Company will produce a development plan (“Plan”) for an online customer registration and management application (“CRM Application”) for Coppermine’s owned, affiliated or managed health, fitness and social activities business facilities in the State of Maryland (“Facilities”). These Facilities currently lack an integrated, single customer registration and management application. Upon and subject to acceptance of the completed Plan by Coppermine, which Plan is anticipated to be completed by May 31, 2025, the Company and Coppermine intend to enter into an application development agreement based on the Plan accepted by Coppermine (“CRM Agreement”) whereby Capstone will produce the CRM Application with assistance from a Capstone software developer contractor.