Share Issuance/ Claim Extinguishment Agreement

9 Months Ended

Sep. 30, 2017

Notes to Financial Statements

NOTE 7 - Share Issuance/ Claim Extinguishment Agreement

During the period ended September 30, 2017, the Company entered into a share issuance/ claim extinguishment agreement (the “Agreement”) with another party, pursuant to which the Company agreed to issue 35,000,000 shares of its common stock in exchange for the assumption of aggregate accounts payable of the Company of $183,443. The fair value of the shares to be issued pursuant to the Agreement was estimated to be $1,218,000 resulting in a loss on the settlement of debt in the amount of $1,034,557 recognized during the period ended September 30, 2017. During the period ended September 30, 2017, the Company issued 10,400,000 of the shares leaving 24,600,000 shares with a value of $856,079 to be issued as at September 30, 2017.