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Subsequent Events
3 Months Ended
Mar. 31, 2019
Notes to Financial Statements  
Note 9. Subsequent Events

The Company has evaluated events subsequent to March 31, 2019, through the date whereupon the financial statements were issued and has determined that there are no other material events that need to be disclosed, except as follows:

 

The Company raised $200,000 at a purchase price of $0.50 per share from securities counsel to the Company and $877,000 at a purchase price of $0.65 per share, from various non-affiliated investors. As of the filing date of this form 10-Q, the Company has cash on hand of approximately $801,500.

 

On April 22, 2019, the Company agreed to issue to Mr. Beplate convertible demand loans representing all outstanding cash loans made by Mr. Beplate to the Company. For any outstanding loans made on or before April 15, 2019, the loans are convertible at $.50 per share and for all loans subsequent to April 15, 2019, the notes are convertible at $.65 per share, in each case at the sole discretion of Mr. Beplate. Currently, Mr. Beplate holds $192,121 in convertible notes at $.50 per share (including the $121,129 owed at March 21, 2019). All future cash  loans made by Mr. Beplate, if any, would  be  made with convertible demand notes issued to him and convertible at $.65 per share.