Subsequent Events

12 Months Ended

Dec. 31, 2016

Subsequent Events [Abstract]

Subsequent Events

NOTE 10 – SUBSEQUENT EVENTS

On February 16, 2017, the Company issued a total of 2,000,000,000 shares of our common stock to our officer and director, Wais Asefi, as compensation for services rendered.

On February 23, 2017, the Company issued 3,000,000 shares of common stock for services.

September 9, 2015, the Company entered into a convertible promissory note pursuant to which we borrowed $50,000. Interest under the convertible promissory note was 8% per annum, and the principal and all accrued but unpaid interest was due on June 7, 2016. The note was convertible at any time following the issuance date at noteholders option into shares of our common stock at a variable conversion price of 50% of the lowest day market price of our common stock during the 10 trading days prior the date of the notice of conversion.

On February 27, 2017, our company and Spero Holdings, LLC (“Spero”) entered into a Agreement, Mutual General Release, and Covenant Not to Sue (the “Agreement”). Pursuant to the Agreement, the parties agreed as follows:

● We agreed to pay Spero $121,745.75 in the following manner: $55,000 paid on March 15, 2017 by a third party and $45,000 paid on April 1, 2017 by a third party. The remaining $21,754.75 was paid by company pursuant to Spero’s writ of attachment (the “Writ”). A third party made the initial payment of $55,000 to Spero by acquiring a portion of the 8% Convertible Debenture (the “Note”) we issued on September 8, 2015 to Spero.

● As security for the payments, we had agreed to sign an irrevocable letter of instruction to allow 125,000,000 shares of our common stock which was released from Spero back to the company on April 13, 2017 based on the agreement.

● The Company and the new note holder have agreed to revise the variable conversion price in favor of a fixed $0.000125 per share conversion price.

On March 6, 2017, we hired the law firm Ellsworth Young LLP to vigorously protect us against abusive lending practices. We have several cases pending concerning convertible promissory notes outstanding, including the following. These actions are all in the initial stages, and we will provide additional disclosures in future filings as these cases develop.

JSJ Investments, Inc. vs. Textmunication Holdings, Inc.

95th District Court of Dallas County, Texas

Filed on 2/7/2017

Case DC-17-01404

Auctus Fund vs. Textmunication Holdings, Inc.

United States District Court – District of Massachusetts

Filed on 3/24/2017

Case 1:17-cv-10504

Textmunication Holdings, Inc. vs. Carebourn Capital. L.P.

United States District Court – District of Nevada

Filed on 4/5/2017

Case 2:17-cv-00968-JAD-VCF

Textmunication Holdings, Inc. vs. Lester Einhaus

Eighth Judicial District Court of Clark County, Nevada

Filed on 4/10/2017

A-17-753743-C

Subsequent to year-end the Company issued 209,548,457 shares of common stock for the settlement of certain notes payable.