Subsequent Event

3 Months Ended

Sep. 30, 2019

Subsequent Event

Subsequent Event

19. Subsequent events

On October 17, 2019, the Company issued 3,576,752 shares of the Company’s common stock for debt conversions in total amount of $20,000.

On October 23, 2019, the Company issued 14,542,358 shares of the Company’s common stock for debt conversions in total amount of $80,000.

On October 30, 2019, the Company closed the previously announced acquisition of BZRTH, Inc., a Nevada corporation (“BZRTH”) pursuant to a Stock Exchange Agreement. BZRTH is headquartered in Irwindale, California and is a leading marketer and manufacturer of hydroponic growth supplies and related products to distributors and retailers. The total consideration to be paid by the Company to acquire BZRTH is 650,000,000 shares of the Company’s common stock, 3,500,000 shares of Series B convertible preferred stock, $870,000 in cash, and 5% promissory notes in the sum of $7,130,000.00 due on or before October 31, 2021 to the BZRTH shareholders. $870,000 of cash had been paid and 200,000,000 shares of the Company’s common stock had been issued as deposit pursuant to a master marketing agreement of December 13, 2017.