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DIVIDENDS
12 Months Ended
Dec. 31, 2018
Notes to Financial Statements  
NOTE 7 - DIVIDENDS

On December 31, 2018, all 36,562 Series A 10% Convertible Preferred Stocks were converted to 43,045,897 restricted Common stock, including 6,456,882 restricted Common stock paid for preferred shares dividend of $261,504.

 

On October 6, 2017, the Board of Directors declared a ten percent stock dividend on its outstanding Series A 10% Convertible Preferred Stock for shareholders of record as of November 15, 2017, and such shareholders received the stock dividend for each share of Series A Preferred Stock owned on that date, paid December 1, 2017. As of October 31, 2017, the Company had 33,238 shares of Preferred Stock outstanding; the total dividend paid consisted of 3,324 shares of Series A Preferred Stock (which were convertible into 3,324,000 shares of Common Stock) and a total of 11.9 fractional shares which will be accumulated until whole shares can be issued.