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Subsequent Events
3 Months Ended
Mar. 31, 2020
Subsequent Events  
Note 7. Subsequent Events

The Company has evaluated events from March 31, 2020, 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:

 

 

 

558,000 shares of common stock were sold for cash proceeds of $229,000 and issued to various non-affiliated investors at $0.50 per share.

 

125,000 shares of common stock were issued for services with a fair market value of $100,625 to a consultant.

 

 

 

 

 

The Company received $119,830 from its Chief Executive Officer related to convertible demand loans. The loans are convertible at $0.50 per share and bear no interest.

 

The Company received $85,000 from its Chief Operating Officer related to unsecured convertible notes. The notes have a maturity date of December 31, 2020 are convertible into common stock at $0.50 per share and bear interest of 3%

 

The Company received $200,000 from a consultant related to unsecured convertible notes.  The notes have a maturity date of March 31, 2021 are convertible into common stock at $0.50 per share and bear interest of 3%.

 

The Company has retained the law firm Gross & Rooney to review the prior auditor's work and explore the potential of a lawsuit.