Stockholders Equity | 3 Months Ended |
Aug. 31, 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 May 14, 2014, the Company reversed 15,483,636 shares of common stock for JSJ Investments, Inc. in cancellation of $8,516 principal amount of convertible notes payable. |
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On June 3, 2014, the Company issued 19,408,888 shares of common stock for JSJ Investments, Inc. in satisfaction of $8,734 principal amount of convertible notes payable. |
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On June 4, 2014, the Company issued 8,111,111 shares of common stock for Asher Enterprises, Inc. in satisfaction of $7,300 of principal amount of convertible notes payable. |
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On June 11, 2014, the Company issued 14,423,077 shares of common stock for Gel Properties, Inc. in satisfaction of $7,500 of principal amount of convertible notes payable. |
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On June 20, 2014, the Company issued 11,363,636 shares of common stock for Gel Properties, Inc. in satisfaction of $5,000 of principal amount of convertible noted payable. |
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On June 22, 2014, the Company issued 20,000,000 shares of common stock for JMJ Financial, Inc. in satisfaction of $14,400 of principal amount of convertible notes payable. |
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On June 25, 2014, the Company issued 13,200,479 shares of common stock (valued at $14,521) in connection with consulting services rendered for Meadow Grove, LTD. |
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On June 26, 2014, the Company issued 12,500,000 shares of common stock for Gel Properties, Inc. in satisfaction of $17,500 of principal amount of convertible notes payable. |
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On June 30, 2014, the Company issued 66,920,560 shares of common stock for Iconic Holdings, LLC. in satisfaction of $16,730 of principal amount of convertible notes payable. |
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On June 30, 2014, the Company issued 12,750,000 shares of common stock to Gel Properties, Inc. in satisfaction of $5,100 of principal amount of convertible noted payable. |
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On July 2, 2014, the Company issued 28,771,780 shares of common stock to LG Capital, Inc. in satisfaction of $11,509 principal amount of convertible notes payable. |
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On July 10, 2014, the Company issued 28,571,429 shares of common stock to Gel Properties, Inc.in satisfaction of $8,000 principal amount of convertible notes payable.. |
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On July 14, 2014, the Company issued 34,090,909 shares of common stock to Asher Enterprises, Inc. in satisfaction of $ 15,000 principal amount of convertible notes payable. |
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On July 14, 2014, the Company issued 31,807,632 shares of common stock to LG Capital, Inc. in satisfaction of $8,906 principal amount of convertible notes payable. |
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On July 14, 2014, the Company issued 42,857,143 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 July 18, 2014, the Company issued 26,660,687 shares of common stock to Gel Properties, Inc. in satisfaction of $4,400 principal amount of convertible notes payable. |
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On July 17, 2014, the Company issued 31,034,483 shares of common stock to Asher Enterprises, Inc. in satisfaction of $9,000 principal amount of convertible notes payable. |
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On July 25, 2014, the Company issued 32,832,191 shares of common stock to LG Capital, Inc. in satisfaction of $5,253 principal amount of convertible notes payable. |
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On July 31, 2014 the Company issued 52,630,136 shares of common stock to LG Capital, Inc in satisfaction of $8,000 principal amount of convertible notes payable.. |
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On July 31, 2014, the Company issued 41,000,000 shares of common stock to JMJ Financial, Inc. in satisfaction of $38,084 principal amount of convertible notes payable. |
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On August 4, 2014, the Company issued 59,358,732 shares of common stock to LG Capital, Inc. in satisfaction of $9,497 principal amount of convertible notes payable. |
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On August 6, 2014, the Company issued 56,659,863 shares of common stock to LG Capital, Inc in satisfaction of $9,065 principal amount of convertible noted payable. |
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On August 7, 2014,, the Company issued 57,000,000 shares of common stock to JMJ Financial, Inc. in satisfaction of $13,680 principal amount of convertible notes payable. |
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On August 13, 2014, the Company issued 140,000,000 shares of common stock to Davis in satisfaction of $41,102 principal amount of loan payable. |
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On August 14, 2014 the Company issued 57,692,308 shares of common stock to Asher Enterprises, Inc. in satisfaction of $15,000 principal amount of convertible notes payable. |
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On August 16, 2014, the Company issued 59,130,435 shares of common stock to Asher Enterprises, Inc. in satisfaction of $15,374 principal amount of convertible notes payable. |
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On August 18, 2014, the Company issued 78,000,000 shares of common stock to JMJ Financial, Inc. in satisfaction of $14,040 principal amount of convertible notes payable. |
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On August 29, 2014, the Company issued 62,753,278 shares of common stock to LG Capital, Inc. in satisfaction of $4,706 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 three months ended August 31, 2014 and for the year ended May 31, 2014 are as follows: |
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| | Number of Warrants | | | Weighted Average Exercise Price | | |
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 August 31, 2014 | | | 850,000 | | | $ | 0.42 | | |
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Warrants outstanding at August 31, 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 | | | | | | |