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Subsequent Events
3 Months Ended
Mar. 31, 2019
Subsequent Events [Abstract]  
Subsequent Events

Note 16 – Subsequent Events

 

On April 3, 2019, the Company received the next funding tranche of $75,000 from L2 and increased the Feb 2019 Note balance by $83,333.

 

On April 26, 2019, the Company completed the closing of a private placement financing transaction with Power Up Lending Group, LTD (“Power Up”), pursuant to a Securities Purchase Agreement (the “Power Up Purchase Agreement”). Pursuant to the Power Up Purchase Agreement, Power Up purchased an 12% Convertible Debenture (the “Power Up Debenture”) in the aggregate principal amount of $128,500, and delivered on May 3, 2019 (the “Funding Date”), gross proceeds of $125,000 excluding transaction costs, fees, and expenses. Principal and interest on the Power Up Debentures is due and payable on April 26, 2020, and the Power Up Debenture is convertible into shares of the Company’s common stock beginning six months from the Funding Date, at a VCP. The VCP is calculated as the lowest closing bid price during the twenty (20) trading days immediately prior to the conversion date multiplied by sixty three percent (63%), representing a thirty seven percent (37%) discount.

 

On April 30, 2019, the Company along with 1919 Clinic, LLC (“1919”) signed an option to purchase the building 1919 is currently operating in, from the owner for $1,000,000. A non-refundable deposit of $50,000 was paid in consideration of the one- month option to purchase the building.

 

On May 7, 2019, the Company received a funding tranche of $150,000 from L2 and increased the Feb 2019 Note balance by $166,667.

 

The Company has evaluated subsequent events through the date the financial statements were issued and filed with the Securities and Exchange Commission. The Company has determined that there are no other such events that warrant disclosure or recognition in the financial statements, except as stated herein.