Subsequent Events

6 Months Ended

Jun. 30, 2014

Note 8- Subsequent Events

The Company evaluated subsequent events through August 4, 2014, the date which the financial statements were available to be issued. Except as disclosed below there were no additional subsequent events.

163 shares of Series C preferred stock have been converted into 280,353,232 shares of common stock for the 3^rd quarter up to August 12, 2014.

$258,087 of convertible debentures have been converted into 421,876,116 shares of common stock for the 3^rd quarter up to August 12, 2014.

On July 16, 2014, we received correspondence from the SEC, requesting that (i) we restate certain of our financial statements by filing amendments to the reports containing such financials, and (ii) we file an 8-K to report non-reliance on such financials. We filed the 8-K to report that our previously issued audited financial statements as of the year ended December 31, 2013, as presented on our 10-K as well as the financial statements issued in our 10-Q for the period ending March 31, 2014 should no longer be relied upon.

In its correspondence, the SEC asserted that certain modifications in our valuation methodology, deemed as accounting estimates, contained errors with respect to the valuation of convertible debentures issued by us, in that such methodology did not capture the debentures’ potentially dilutive effect upon their conversion into common stock. Our operational performance remains unchanged.

We intend to file an amended 10-K and an amended 10-Q that will contain restated Financial Statements revised pursuant to the SEC’s comments