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, the closing price of the Company's freely-traded shares being $0.012 per share, in exchange for accounts payable and loans of $200,000, $10,000 and $50,000, respectively. 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 $0.02 per share, the closing price of the Company's freely-traded shares being $0.025 per share, in exchange for $195,000 of accounts payable owed. 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 Restricted Common shares at $0.05, the closing price 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 $0.05 per share, the closing price of the Company's freely-traded shares, in exchange for $200,040 of accounts payable owed. 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 four million shares of Restricted Common shares (two million to each Director) at $0.06, the closing price of the Company's freely-traded shares. 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 recorded a subscription receivable of $7,500,which was collected in July 2015. On August 25, 2015, the Company issued 1,000,000 shares of its common stock at $0.02 per share, the closing price of the Company's freely-traded shares being $0.022 per share, in settlement of $10,000 owed by the Company. The Company has recorded a net loss of $164,860 resulting from settlement of $665,040 of debt for 40,168,000 Restricted Common shares during the nine months ended September 30, 2015. |