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Note 16. Subsequent Events
6 Months Ended
Jun. 30, 2016
Notes  
Note 16. Subsequent Events

Note 16.          Subsequent Events

 

In July 2016, the Company issued a total of 3,192 shares of unregistered common stock, valued at a total of $3,000, to three independent directors in lieu of cash owed for a board meeting attended, and the Company expects to record a charge to earnings totaling $3,000 in the third quarter of 2016.

 

On July 25, 2016, the Company filed an S-1 Registration Statement with the Securities and Exchange Commission.  See Note 3 Notes Payable for further details on the Form S-1 Registration Statement filed subsequent to and in conjunction with the convertible debt agreement with JMJ Financial executed in June 2016.

 

In late July and August 2016, JMJ Financial was issued a total of 70,000 registered shares of stock to convert $27,915 of debt the Company owed JMJ, per their January 2016 convertible debt agreement with the Company.  See Note 3 Notes Payable for further details of this agreement.

 

In August 2016, the Company executed a twelve month financial, investor and public relations consulting agreement with Wilson Nixon (“Nixon”).  For the services rendered the Company issued Nixon 200,000 shares of the Company’s unregistered common stock.  To reflect the entire value of the Agreement, the Company expects to record a non-cash charge to earnings of $150,000 ratably between August 2016 and July 2017, the ending date of the agreement.