Stockholders Equity | 9 Months Ended |
Feb. 28, 2015 |
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 December 1, 2014, the Company issued 233,356,500 shares of common stock for LG Capital, Inc. in satisfaction of $4,667 of principal amount of convertible notes payable. |
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On December 3, 2014, the Company issued 164,350,200 shares of common stock for Redwood Fund III, Inc.in satisfaction of $ 3,287 of principal amount of convertible notes payable. |
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On December 5, 2014, the Company issued 228,000,000 shares of common stock for KBM Worldwide, Inc. in satisfaction of $11,400 of principal amount of convertible notes payable. |
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On December 10, 2014, the Company issued 128,428,577 shares of common stock for Iconic Holdings, LLC in satisfaction of $ 3,148 of principal amount of convertible notes payable |
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On December 10, 2014, the Company issued 200,000,000 shares of common stock for WHC Capital, Inc. in satisfaction of $4,800 of principal amount of convertible notes payable. |
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On December 10, 2014, the Company issued 157,500,000 shares of common stock for Tonaquint, Inc. in satisfaction of $3,937 of principal amount of convertible notes payable. |
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On December 16,, 2014, the Company issued 307,937,698 shares of common stock for JSJ Investments, Inc. in satisfaction of $7,698 of principal amount of convertible notes payable. |
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On December 22, 2014, the Company issued 318,000,000 shares of common stock for JMJ Financial, Inc. in satisfaction of $19,080 of principal amount of convertible notes payable. |
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On December 30, 2014, the Company issued 153,846,000 shares of common stock for Adars Bay, Inc. in satisfaction of $3,846 of principal amount of convertible notes payable. |
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On December 31, 2014, the Company issued 181,200,000 shares of common stock for KBM Worldwide, Inc. in satisfaction of $9,060 of principal amount of convertible notes payable. |
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On December 31, 2014, the Company issued 256,044,000 shares of common stock for LG Capital, Inc.in satisfaction of $5,121 of principal amount of convertible notes payable. |
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On December 31, 2014, the Company issued 46,800,000 shares of common stock for KBM Worldwide, Inc. in satisfaction of $2,340 of principal amount of convertible notes payable. |
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On December 31, 2014, the Company issued 181,200,000 shares of common stock to KBM Worldwide, Inc. in satisfaction of $9,060 of principal amount of convertible notes payable. |
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On December 31, 2014, the Company issued 256,044,000 shares of common stock to LG Capital, Inc., Inc. in satisfaction of $5,121 principal amount of convertible notes payable. |
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On January 12, 2015, the Company issued 160,000,000 shares of common stock to Tonaquint, Inc.in satisfaction of $4,000 principal amount of convertible notes payable. |
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On February 17, 2015, the Company issued 280,600,000 shares of common stock to KBM Worldwide, Inc. in satisfaction of $ 14,030 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 nine months ending February 28, 2015 and for the year ended May 31, 2014 are as follows: |
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| | Weighted | | | Exercise | | | |
Average | Price | | |
Number of | | | |
Warrants | | | |
| | | | | | | | |
Outstanding at May 31, 2013 | | $ | - | | | $ | - | | | |
Granted | | | 850,000 | | | | 0.42 | | | |
Exercised | | | - | | | | - | | | |
Cancelled | | | - | | | | - | | | |
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Outstanding at May 31, 2014 | | | 850,000 | | | | 0.42 | | | |
Granted | | | - | | | | - | | | |
Exercised | | | - | | | | - | | | |
Cancelled | | | - | | | | - | | | |
Outstanding at February 28, 2015 | | $ | 850,000 | | | $ | 0.42 | | | |
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Warrants outstanding at February 28, 2015 consist of: |
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Date Granted | | Number | | | Exercise | | Expiration | |
Outstanding | price | 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 | | | | | | | |