XML 63 R21.htm IDEA: XBRL DOCUMENT v2.4.0.8
Subsequent Events
12 Months Ended
Dec. 31, 2013
Subsequent Events [Abstract]  
Subsequent Events
12.      Subsequent Events
 
In preparing these financial statements, the Company has evaluated events and transactions for potential recognition of disclosure as follows:
 
On January 2, 2014, and effective December 31, 2013, the Company and Micrologic Design Automation, Inc. ("MDA") signed a letter agreement whereby MDA provided for a perpetual, royalty free, exclusive license of the Licensed Technology, as defined in the Evaluation License Agreement dated September 1, 2013.  In connection with this agreement, the Company agreed to issue 200,000,000 shares of common stock having a value of $600,000 based upon recent market value ($0.003/shares). (See Note 7 and 10)
 
In January 2014, the Company converted 1,800 shares of Series C Preferred Shares into 9,900,000 shares of Common Stock of the Company.  In April 2014, the Company converted 2,270 shares of Series C Preferred Shares into 12,485,000 shares of Common Stock of the Company.
 
On February 3 and March 17, Financier converted a total of $9,110 in convertible note principal into approximately 8,974,780 common shares.
 
Effective April 4, 2014, the Company filed with the State of Nevada a Certificate of Amendment to Articles of Incorporation changing the Company’s number of authorized shares to 600,000,000.