XML 27 R17.htm IDEA: XBRL DOCUMENT v3.19.1
10. COMMON STOCK
12 Months Ended
Dec. 31, 2018
STOCKHOLDERS' DEFICIT  
COMMON STOCK

NOTE 10 – COMMON STOCK

 

In accordance with the Company’s bylaws, the Company has authorized a total of 250,000,000 shares of common stock, par value $0.01 per share. As of December 31, 2018 and December 31, 2017, there were 89,680,567 and 100 common shares issued and outstanding.

 

During the year ended December 31, 2018, the Company issued 28,358,000 shares of common stock as settlement of deferred compensation and notes payable to former officers and directors of the Company in the total amount of $558,745.74, and in recognition of the upcoming cancellation of the PSF, Inc. preferred shares.

 

During the year ended December 31, 2017, the Company issued 1,591,000 shares of common stock to investors for $50,300 cash.

 

At December 31, 2018, the Company had 160,319,433 in common shares reserved for issuance for convertible debt securities.

 

On February 5, 2019, the majority stockholders holding a majority of the issued and outstanding voting shares of the Company amended the Company’s Certificate of Incorporation to increase the number of authorized shares of Common Stock from 250,000,000 to 3,000,000,000.