XML 23 R13.htm IDEA: XBRL DOCUMENT v3.8.0.1
SUBSEQUENT EVENT
12 Months Ended
Dec. 31, 2017
Subsequent Events [Abstract]  
SUBSEQUENT EVENT

NOTE 7 – SUBSEQUENT EVENT

 

On January 8, 2018 the company borrowed $105,000 under a convertible note maturing August 28, 2018. The note bears interest of 12% payable at maturity. Any amount of principal or interest on the note which is not paid when due shall bear interest at the rate of twenty-four percent (24%) per annum from the due date thereof until the same is paid. The note is convertible into shares of the company’s $0.001 par value common stock after April 27, 2018 (the “Initial Conversion Date”). The conversion rate is variable and will be 55% of the lowest one day trading price during the twenty trading days preceding the holders notice of conversion. The number of shares issuable on any conversion is limited to 4.99% of the company’s then issued and outstanding common stock. The note holder may increase the 4,99% limit to 9.99% on 61 days prior notice to the Company, The company, at the request of the note holder has reserved 40 million shares of its $0.001 common stock for conversion. The note can be prepaid at the company’s option until May 29, 2018. The company also entered a into a security agreement pledging substantially all of its assets except for those related to Laser Guided Energy as collateral for the note.

  

On December 4, 2017 we entered into a financial services agreement with BMA Securities for which, on January 26, 2018, we issued 5,000,000 shares of stock valued at $150,000.

 

On January 24, 2018, we issued 1,242,710 shares of common stock in settlement of invoices valued at $38,524.26 with a vendor.

 

In March, 2018, the company paid off the $53,000 convertible note and cancelled its associated warrant to purchase 1,320,598 shares of common stock for a total of $121,073. The company borrowed the $121,073 to make the payment from two directors of the company.

 

In March, 2018, the company borrowed $8,107 to pay off a vendor’s invoices totaling $3,107 and paying a vendor’s retainer of $5,000.

  

On April 12, 2018 the company received $120,000 from an individual based on a subscription agreement with the company.

 

Also on April 12, 2018 the company paid off the $33,000 convertible note, which was funded on October 18, 2018, for a total of $50,682.

  

On April 13, the company received $100,020 from an individual based on a subscription agreement with the company.

 

On On April 16, the company received $30,000 from an individual based on a subscription agreement with the company.

 

The company’s management has evaluated subsequent events occurring after December 31, 2017, the date of our most recent balance sheet, through the date our financial statements were issued.