STOCKHOLDERS' EQUITY | 4. STOCKHOLDERS' EQUITY On January 6, 2015, the Company executed three Debt Settlement Agreements, whereby the Company issued twenty million Restricted Common shares to its Chairman, one million Restricted Common shares to a non-officer Director and five million Restricted Common shares to a vendor, at $0.01 per share in exchange for accounts payable and loans of $200,000, $10,000 and $50,000, respectively. The $0.01 per share was the closing price of the Company's freely-traded shares. On January 27, 2015, the Company executed a Debt Settlement Agreement with its CEO, President and CFO, whereby the Company issued 6.5 million Restricted Common shares at $0.03 per share in exchange for $195,000 of accounts payable owed. The closing price of the Company's freely-traded shares was $0.02 per share. On February 9, 2015, the Company sold for cash of $25,000 one million Restricted Common shares at $0.025 to a non-related party. The closing price of the Company's freely-traded shares was $0.05 per share, a 50% discount. On February 10, 2015, the Company filed a Certificate of Amendment to its Articles of Incorporation with the State of Nevada increasing the number of it authorized common shares from 250,000,000 to 1,000,000,000. On February 10, 2015, the Company entered into four Consulting Agreements with non-related parties, issuing a total of 16 million shares of its common stock at $0.03 per share, a 40% discount to the closing price of $0.05 per share of the Company's freely-traded shares. On February 11, 2015, the Company signed a Debt Settlement Agreement with its CEO, President and CFO, whereby the Company issued 6,668,000 Restricted Common shares at $0.03 per share in exchange for $200,040 of accounts payable owed. The closing price of the Company's freely-traded shares was $0.05 per share, a 40% discount. On February 17, 2015, the Company signed Amendments to the Agreement to serve on the Board of Directors with its two independent Directors, whereby the Company issued 2 million shares to each at $0.03 per share, $60,000 per Director. The closing price of the Company's freely-traded shares was $0.06 per share, a 50% discount. On April 21, 2015, the Company issued 1,100,000 shares of its common stock pursuant to a Debt Settlement Agreement with Aruba Capital Management, Inc., a related-party, in exchange for $33,000 of accounts payable owed by the Company for expenses paid on its behalf. On May 12, 2015, the Company issued 500,000 shares of its common stock to an unrelated party in exchange for $5,000. On May 13, 2015, the Company issued 750,000 shares of its common stock to an unrelated party in exchange for $7,500. On May 14, 2015, the Company issued 250,000 shares of its common stock to an unrelated party in exchange for $2,500. On June 10, 2015, the Company issued 1,000,000 shares of its common stock to an unrelated party in exchange for $10,000. As of June 30, 2015 the Company has received $2,500 and has recorded a subscription receivable of $7,500. |