SUBSEQUENT EVENTS | 9. SUBSEQUENT EVENTS On May 25, 2016, the Board Of Directors approved the issuance of up to 20,000,000 Restricted Common shares at $0.01 per share ($200,000) plus participation in a Revenue Sharing Agreement of $0.02 for each $1.00 of advertising revenue the Company receives for a period of thirty-six months after the effective date as defined in the Revenue Sharing Agreement. The payment of the Revenue Sharing is earned on a pro-rata basis, based on the proportion each investor makes towards the $200,000 total investment. Based on the full $200,000 being received from investors, if an investor invests $20,000 (10% of the $200,000 total investment), such investor would receive 10% of $0.02 ($0.002) for each dollar of advertising revenue the Company receives over the thirty-six months period. The following six (6) investments have been received by the Company pursuant to the Investment and Revenue Sharing Agreement Document: On July 26, 2016, the Company received an investment of $37,500 and issued 3,750,000 Restricted Common shares at $0.01 per share. The certificate was issued on August 30, 2016. On August 5, 2016, the Company received two investments - one for $15,000 and one for $36,000 and issued 1,500,000 and 3,600,000 Restricted Common shares respectively at $0.01 per share. On September 5, 2016, the Company received an investment of $3,750 and issued 375,000 Restricted Common shares at $0.01 per share on September 9, 2016. On September 20, 2016, the Company received an investment of $20,000 and issued 2,000,000 Restricted Common shares at $0.01 per share. The Certificate was issued on October 19, 2016. On September 28, 2016, the Company received an investment of $10,000 and issued 1,000,000 Restricted Common shares at $0.01 per share. The Certificate was issued on October 19, 2016. On November 4 and December 6, the Company received a total investment of $17,000 and issued 1,700,000 Restricted Common shares at $0.01 per share. The Certificate was issued on December 28, 2016. DEBT SETTLEMENT AGREEMENTS WITH NON-RELATED PARTIES: On August 31, 2016, the Company signed a Debt Settlement Agreement with a non-related party issuing 2,000,000 Restricted Common shares at $0.01 per share on September 6, 2016, in exchange for $20,000 of payables owed to the recipient. On August 31, 2016, the Company signed a Debt Settlement Agreement with a non-related party issuing 3,000,000 Restricted Common shares at $0.01 per share on September 6, 2016, in exchange for $30,000 of payables owed to the recipient. On September 1, 2016, the Company signed a Consulting Agreement and issued 4,000,000 Restricted Common shares at $0.01 per share on September 6, 2016. On September 6, 2016, the Company signed a Debt Settlement Agreement with a non-related party issuing 2,400,000 Restricted Common shares at $0.01 per share. The certificate was issued on October 19, 2016. |