Stockholders Equity | 9 Months Ended |
Feb. 28, 2014 |
Notes to Financial Statements | ' |
Note 10 - Stockholders Equity | ' |
Series A Convertible Preferred Stock |
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Each share of Series A Convertible Preferred Stock has 1,000 voting rights and is convertible into 1,000 shares of common stock. |
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Common Stock Issuances |
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On June 17, 2013, the Company issued 2,500,000 shares of common stock in satisfaction of a $50,000 loan payable. |
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On June 29, 2013, the Company issued 2,500,000 shares of common stock (valued at $250,000) to a consultant for services rendered. |
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On July 5, 2013, the Company issued 250,000 shares of common stock (valued at $22,500) to a consultant for website development services. |
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On July 9, 2013, the Company issued 75,000 shares of common stock (valued at $6,675) to a consultant for services rendered. |
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On July 17, 2013, the Company issued 500,000 shares of common stock (valued at $41,650) to a consultant for investor relations services. |
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On July 22, 2013, the Company issued 2,874,550 shares of common stock in satisfaction of a $57,491 loan payable. |
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On July 22, 2013, the Company issued 7,500,000 shares of common stock (valued at $697,500) in connection with the acquisition of a 19% equity interest in Imagic Ltd. See Note 5. |
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On August 15, 2013, the Company issued 500,000 shares of common stock (valued at $35,500) to Bioharmonics Technologies Corp. in connection with the acquisition of certain inventions and related patents and patent applications. |
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On August 26, 2013, the Company issued 2,000,000 shares of common stock (valued at $133,000) to a consultant for services rendered. |
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On August 28, 2013, the Company issued 1,114,206 shares of common stock to Asher Enterprises, inc. in satisfaction of $14,000 principal amount of convertible notes payable and $26,000 of fees. |
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On September 18, 2013, the Company issued 856,164 shares of common stock to Asher Enterprises, Inc. in satisfaction of $25,000 principal amount of convertible notes payable. |
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On October 9, 2013, the Company issued 1,000,000 shares of common stock (valued at $45,600) to a consultant firm for investor relation services rendered. |
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On October 10, 2013, the Company issued 250,000 shares of common stock (valued at $12,500) to a consultant for services rendered. |
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On November 4, 2013, the Company issued 903,261 shares of common stock to Asher Enterprises, Inc. in satisfaction of $14,500 principal amount of convertible notes payable and $500 of costs. |
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On November 4, 2013, the Company issued 1,153,846 shares of common stock to Asher Enterprises, Inc. in satisfaction of $15,000 principal amount of principal amount of convertible notes payable. |
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On November 7, 2013, the Company issued 3,500,000 shares of common stock in satisfaction of a $52,500 loan payable. |
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On November 12, 2013, the Company issued 1,630,435 shares of common stock to Asher Enterprises, Inc. in satisfaction of $15,000 principal amount of convertible notes payable. |
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On November 14, 2013, the Company issued 3,999,200 shares of common stock to Iconic Holdings, LLC in satisfaction of $13,197 principal amount of convertible notes payable. |
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On November 15, 2013 the Company issued 175,000 shares of common stock (valued at $1,750) to a consultant for services rendered. |
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On November 19, 2013, the Company issued 3,456,597 shares of common stock to Asher Enterprises, Inc. in satisfaction of $20,055 principal amount of convertible notes payable and $17,548 of costs. |
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On November 19, 2013, the Company issued 8,850,572 shares of common stock to Iconic Holdings, LLC in satisfaction of $22,126 principal amount of convertible notes payable. |
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Effective December 3, 2013, the Company issued 8,000,000 shares of common stock (valued at $99,200) to Meadow Grove Ltd. in connection with the acquisition of a 9% equity interest in Imagic Ltd. See Note 5. |
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On December 4, 2013, the Company issued 7,072,457 shares of common stock to Iconic Holdings, LLC in satisfaction of $14,852 principal amount of convertible notes payable. |
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On December 18, 2013, the Company issued 5,445,005 shares of common stock to Iconic Holdings, LLC in satisfaction of $11,435 principal amount of convertible notes payable. |
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On December 26, 2013 the Company issued 4,166,667 shares of common stock to Asher Enterprises, Inc. in satisfaction of $20,000 principal amount of convertible notes payable. |
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On December 30, 2013, the Company issued 4,791,667 shares of common stock to Asher Enterprises, Inc. in satisfaction of $23,000 principal amount of convertible notes payable. |
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On January 6, 2014, the Company issued 1,305,556 shares of common stock to Asher Enterprises, Inc. in satisfaction of $7,050 principal amount of convertible notes payable. |
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On January 13, 2014, the Company issued 6,198,762 shares of common stock to Iconic Holdings, LLC in satisfaction of $13,017 principal amount of convertible notes payable. |
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On January 23, 2014, the Company issued 6,436,781 shares of common stock to Iconic Holdings, LLC in satisfaction of $14,000 principal amount of convertible notes payable. |
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On February 3, 2014, the Company issued 7,498,890 shares of common stock to Iconic Holdings, LLC in satisfaction of $14,998 principal amount of convertible notes payable. |
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On February 6, 2014, the Company issued 4,900,000 shares of common stock to JSJ Investments, Inc. in satisfaction of $17,150 principal amount of convertible notes payable. |
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On February 11, 2014, the Company issued 3,000,000 shares of common stock to JMJ Financial Inc. in satisfaction of $10,800 principal amount of convertible notes payable. |
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On February 11, 2014, the Company issued 4,901,960 shares of common stock to Continental Equities, LLC in satisfaction of $20,000 principal amount of convertible notes payable. |
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On February 13, 2014, the Company issued 5,000,000 shares of common stock to Black Mountain Equities, Inc. in satisfaction of $15,000 principal amount of convertible notes payable. |
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On February 25, 2014, the Company issued 4,000,000 shares of common stock to JMJ Financial Inc. in satisfaction of $12,000 principal amount of convertible notes payable. |
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Warrants to Purchase Common Stock |
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A summary of warrant activity for the year ended May 31, 2013 and for the nine months ended February 28, 2014 follows: |
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| | | | | Weighted Average Exercise Price | | |
Number of Warrants | |
Outstanding at May 31, 2012 | | | - | | | $ | - | | |
Granted | | | 850,000 | | | | 0.42 | | |
Exercised | | | - | | | | - | | |
Cancelled | | | - | | | | - | | |
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Outstanding at May 31, 2013 | | | 850,000 | | | | 0.42 | | |
Granted | | | - | | | | - | | |
Exercised | | | - | | | | - | | |
Cancelled | | | - | | | | - | | |
Outstanding at February 28, 2014 | | | 850,000 | | | $ | 0.42 | | |
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Warrants outstanding at February 28, 2014 consist of: |
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Date Granted | | Number Outstanding | | | Exercise price | | Expiration Date |
25-May-12 | | | 100,000 | | | $ | 1 | | 25-May-15 |
12-Jun-12 | | | 150,000 | | | $ | 1 | | 12-Jun-15 |
26-Jun-12 | | | 100,000 | | | $ | 1 | | 26-Jun-15 |
1-Jan-12 | | | 500,000 | | | $ | 0.01 | | 1-Jan-15 |
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Totals | | | 850,000 | | | | | | |