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Subsequent Events
12 Months Ended
Dec. 31, 2022
Subsequent Events [Abstract]  
Subsequent Events

11. Subsequent Events

 

On January 10, 2023, the Majority Shareholders consented in writing to approve the Company’s conversion from a Florida corporation to a Nevada corporation (the “Conversion”) named “Biostax Corp.”, certain changes to the authorized and outstanding shares of Common Stock of the Company, the authorization of a class of preferred stock for the Nevada Corporation, and the adoption of new bylaws to govern the Nevada Corporation a s the successor to the Company following the Conversion. As of such date, the Majority Shareholders held 42,225,908 shares of our Common Stock, representing approximately 50.83% of the Company’s outstanding shares eligible to vote on this matter. The foregoing shareholder consent was to become effective on the 20th day following the filing of a definitive information statement on Schedule 14C with the SEC and the mailing of such information statement to the Company’s shareholders, at which time the Conversion and related corporate actions would become effective. No such definitive information statement was filed. However, on February 28, 2023, the Majority Shareholders consented in writing to abandon the Conversion and related corporate actions as no longer being in the best interests of the Company and to file an amended preliminary Schedule 14C.

 

On February 28, 2023, the Majority Shareholders approved by written consent, in lieu of a special meeting, Articles of Amendment to change the name of the Company to “Biostax Corp.”

 

On January 19, 2023, the Company issued 250,000 shares of common stock to TaiwanJ Pharmaceuticals, Inc. These shares were issued as part of a pending amendment to the existing license agreement.

 

On March 24, 2023, the Company issued $150,000 in promissory notes to two lenders. $100,000 of which was issued to H. Louis Salomonsky, a Director of the Company. The notes mature in 90 days and pay interest of 8%.