Stockholders Equity | 6 Months Ended |
Nov. 30, 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 September 4, 2014, the Company issued 70,000,000 shares of common stock for JMJ Financial, Inc. in satisfaction of $14,040 principal amount of convertible notes payable. |
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On September 4, 2014, the Company issued 170,760,000 shares of common stock for Iconic Holdings, LLC in satisfaction of $8,538 of principal amount of convertible notes payable. |
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On September 12, 2014, the Company issued 78,759,945 shares of common stock for LG Capital, Inc. in satisfaction of $3,938 of principal amount of convertible notes payable. |
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On September 19, 2014, the Company issued 170,760,000 shares of common stock for Iconic Holdings, LLC in satisfaction of $8,538 of principal amount of convertible notes payable |
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On September 19, 2014, the Company issued 93,841,481 shares of common stock for JSJ Investments, Inc. in satisfaction of $4,692 of principal amount of convertible notes payable. |
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On September 19, 2014, the Company issued 100,271,400 shares of common stock for LG Capital, Inc. in satisfaction of $5,014 of principal amount of convertible notes payable. |
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On September 19, 2014, the Company issued 100,000,000 shares of common stock for JMJ Financial, Inc. in satisfaction of $12,000 of principal amount of convertible notes payable. |
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On September 23, 2014, the Company issued 98,439,714 shares of common stock for JSJ Investments, Inc. in satisfaction of $4,922 of principal amount of convertible notes payable. |
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On October 1, 2014, the Company issued 103,263,260 shares of common stock for JSJ Investments, Inc. in satisfaction of $2,582 of principal amount of convertible notes payable. |
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On October 1, 2014, the Company issued 265,320,000 shares of common stock for Iconic Holdings, LLC. in satisfaction of $6,633 of principal amount of convertible notes payable. |
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On October 1, 2014, the Company issued 105,000,000 shares of common stock for JMJ Financial, Inc. in satisfaction of $6,300 of principal amount of convertible notes payable. |
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On October 1, 2014, the Company issued 133,984,700 shares of common stock for Redwood Fund, III in satisfaction of $2,680 of principal amount of convertible notes payable. |
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On October 1, 2014, the Company issued 141,004,800 shares of common stock to Redwood Fund III, Inc. in satisfaction of $2,680 of principal amount of convertible notes payable. |
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On October 16, 2014, the Company issued 64,500,000 shares of common stock to KBM Worldwide, Inc., Inc. in satisfaction of $3,225 principal amount of convertible notes payable. |
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On October 16, 2014, the Company issued 87,800,000 shares of common stock to KBM Worldwide, Inc.in satisfaction of $4,390 principal amount of convertible notes payable.. |
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On October 16, 2014, the Company issued 92,480,000 shares of common stock to WHC Captial, Inc. in satisfaction of $4,624 principal amount of convertible notes payable. |
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On October 16, 2014, the Company issued 175,750,000 shares of common stock to Tonaquint, Inc. in satisfaction of $4,393 principal amount of convertible notes payable. |
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On October 20, 2014, the Company issued 152,300,000 shares of common stock to KBM Worldwide, Inc. in satisfaction of $7,615 principal amount of convertible notes payable. |
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On October 20, 2014, the Company issued 148,392,800 shares of common stock to Redwood Fund, III, Inc. in satisfaction of $2,968 principal amount of convertible notes payable. |
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On October 30,, 2014, the Company issued 184,359,000 shares of common stock to LG Capital Funding, Inc. in satisfaction of $3,687 principal amount of convertible notes payable. |
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On November 10, 2014, the Company issued 152,300,000 shares of common stock to KBM Worldwide, Inc. in satisfaction of $7,615 principal amount of convertible notes payable. |
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On November 10, 2014 the Company issued 157,500,000 shares of common stock Tonaquint, Inc in satisfaction of $3,937 principal amount of convertible notes payable.. |
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On November 11, 2014, the Company issued 324,186,800 shares of common stock to Iconic Holdings, LLC. in satisfaction of $8,105 principal amount of convertible notes payable. |
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On November 19, 2014, the Company issued 107,520,000 shares of common stock to WHC Capital Inc. in satisfaction of $5,376 principal amount of convertible notes payable. |
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On November 19, 2014, the Company issued 156,167,800 shares of common stock to KBM Worldwide, Inc in satisfaction of $7,615 principal amount of convertible noted payable. |
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On November 19, 2014,, the Company issued 222,151,000 shares of common stock to LG Capital Funding, Inc. in satisfaction of $4,443 principal amount of convertible notes payable. |
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On November 20, 2014, the Company issued 212,530,662 shares of common stock to Iconic Holdings, LLC in satisfaction of $5,207 principal amount of loan payable. |
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Warrants to Purchase Common Stock |
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A summary of warrant activity for the six months ending November 30, 2014 and for the year ended May 31, 2014 are as follows: |
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| | Weighted Average | | | | |
| | Number of | | | Exercise | |
| | Warrants | | | 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 November 30, 2014 | | | 850,000 | | | $ | 0.42 | |
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Warrants outstanding at November 30, 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 | | | | | | |