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Subsequent Events
9 Months Ended
Sep. 30, 2014
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

Note 6 – SUBSEQUENT EVENTS

 

On October 1, 2014, the Company received a loan of $1,000 from a relative of the CEO. The loan is unsecured and bears interest at 8% and is due upon demand.

 

On October 26, 2014, three convertible note holders converted $34,380 in principal into 9,000,000 shares of the Company’s common stock in accordance with their note agreements.

 

On November 4, 2014, the Company issued 125,000 units to an investor for cash proceeds of $12,500. Each unit consists of one share of the Company’s common stock and a warrant to purchase one share of the Company’s common stock at an exercise price of $0.25 per share. The warrant expires on December 31, 2017.

 

On November 13, 2014, the Company entered into a Note Restructure Agreement whereby the Company and a note holder agreed to extend a Senior Secured Convertible Promissory Note in the amount of $50,000 and with an original maturity date of November 7, 2014 until June 30, 2015. In consideration for extension of the due date of the note, the Company agreed to issue to the note holder 1,000,000 shares of the Company’s restricted common stock and to pay $3,750 in interest, of which it is in arrears, in three equal monthly payments of $1,250 starting on November 30, 2014, and to make scheduled future quarterly interest payments of $2,500 on February 7, 2015 and May 7, 2015.