STOCK | NOTE 7 STOCK Stock issuance for debt settlement On January 28, 2015, the Company issued 91,600,000 shares of common stock at $0.001 using the closing prices on the stock issuance date to shareholders for interest expense on notes previously issued that have not received principal or interest payments to settle interest owed of $1,597,253 Compared with $0 issuance in the previous year. The par value of this issuance was $91,600 and the additional paid up capital was $1,505,600. On January 28, 2015, the Company issued 2,000,000 shares of common stock at a fair value of $0.012 for $10,000 cash for service to an unrelated party, using the closing prices on the stock issuance date. On January 28, 2015, the Company issued 75,000,000 shares of common stock to consultants for services. The fair value of the shares is $0.012 per share for a total of $900,000, using the closing prices on the stock issuance date. These shares were issued as stock based compensation for consulting services. The following table shows all transactions related to the 75,000,000 stock based allocation. Date Description Change in Shares Stock Price on Issuance Date Consulting expense 28/01/2015 Dora Sarros -Company set up Cost + Admin+ Con in lieu of salary or consulting fees 10,500,000 $ 0.012 $ 126,000 28/01/2015 Bill Leslie -Company set up Cost + Admin+ Con in lieu of salary or consulting fees 15,000,000 $ 0.012 $ 180,000 28/01/2015 Nigel OShea -Company set up Cost + Admin+ Con in lieu of salary or consulting fees 5,000,000 $ 0.012 $ 60,000 28/01/2015 James Eugene Manczak -Marketing and PR Admin+ Con 3,000,000 $ 0.012 $ 36,000 28/01/2015 Gosuinus Lens - ( January 1-July 1, 2015 ) Including 1000 G&A and 5000 prepaid 6,000,000 $ 0.012 $ 72,000 28/01/2015 Silas Curry - in lieu of salary or consulting fees 3,500,000 $ 0.012 $ 42,000 29/01/2015 StockVest - (January 28-April 28, 2015 ) ir, advertising, promotional and marketing services 2,000,000 $ 0.012 $ 24,000 28/01/2015 Square One consulting - in lieu of salary or consulting fees 5,000,000 $ 0.012 $ 60,000 28/01/2015 Stephen Fynmore -Company set up Cost + Admin+ Con in lieu of salary or consulting fees 20,000,000 $ 0.012 $ 240,000 28/01/2015 Richard Jackson - in lieu of salary or consulting fees 5,000,000 $ 0.012 $ 60,000 Total 75,000,000 $ 900,000 On January 29, 2015, the Company issued 60,000,000 shares of common stock. The issuance is related to debt settlement of $6,000 with two unrelated parties. The fair value of the shares issued was $720,000 valued at $0.012 per share, using the closing price on the stock issuance date. The Company booked $714,000 as a loss on debt extinguishment. On March 20, 2015, the Company issued 19,000,000 shares of common stock. The issuance is related to debt settlement of $10,000 of loans payable with an unrelated party debt holder. The fair value of the shares issued was $68,400 valued at $0.0036 per share, using the closing prices on the stock issuance date. The Company booked $58,400 as a loss on debt extinguishment. On April 9, 2015, the Company issued 80,000,000 shares of common stock. The issuance is related to debt settlement of $800 of loans payable with two unrelated party debt holders. The fair value of the shares issued was $232,000 valued at $0.0029 per share, using the closing prices on the stock issuance date. The Company booked $231,200 as a loss on debt extinguishment. On May 8, 2015, the Company issued 90,000,000 shares of common stock. The issuance is related to debt settlement of $900 of loans payable with two unrelated party debt holders. The fair value of the shares issued was $90,000 valued at $0.001per share, using the closing prices on the stock issuance date. The Company booked $89100 as a loss on debt extinguishment. On June 16, 2015, the Company issued 140,000,000 shares of common stock. The issuance is related to debt settlement of $900 of loans payable with two unrelated party debt holders. The fair value of the shares issued was $140,000 valued at $0.001per share, using the closing prices on the stock issuance date. The Company booked $139,100 as a loss on debt extinguishment. On July 22, 2015, the Company issued 20,000,000 shares of common stock. The issuance is related to debt settlement of $4,000 of loans payable with an unrelated party debt holder. The fair value of the shares issued was $18,000 valued at $0.0009 per share, using the closing prices on the effective date of the agreement. The Company booked $14,000 as a loss on debt extinguishment. On July 22, 2015, the Company issued 180,000,000 shares of common stock. The issuance is related to debt settlement of $9,000 of loans payable with two unrelated party debt holders. The fair value of the shares issued was $162,000 valued at $0.0009 per share, using the closing prices on the effective date of the agreement. The Company booked $153,000 as a loss on debt extinguishment. On August 7, 2015, the Company cancelled 50,000,000 shares of common stock. The canceled shares were returned to treasury. On August 7, 2015, the Company issued 47,151,000 shares of common stock in exchange for the cancellation of $5,847 loan payable. The fair value of the shares issued was $117,878 valued at $0.0025 per share, using the closing prices on the stock issuance date. The Company booked $112,031 as a loss on debt extinguishment. On September 30, 2015, the Company cancelled 35,158,108(in two lots $20,158,108 and 15,000,000 respectively) shares of common stock. The canceled shares were returned to treasury. On September 30, 2015, the Company issued 49,300,000 shares of common stock in exchange for the cancellation of $9,950 loan payable. The fair value of the shares issued was $118,320 valued at $0.0024 per share, using the closing prices on the stock issuance date. The Company booked $108,370 as a loss on debt extinguishment. On October 6, 2015, the Company issued 1,500,000,000 shares of common stock to employees for services. The company issued John O'Shea1,500,000,000 in lieu of salaries valued at $0.0014 per share, using the closing prices on the stock issuance date.(future shares issued from this pool). The Company booked stock compensation expenses of $2,100,000 based on the closing price of the stock issuance date. On October 6, 2015, the Company issued 25,000,000 shares of common stock in exchange for the cancellation of $10,000 loan payable. The fair value of the shares issued was $34,000 valued at $0.00136 per share, using the closing prices on the stock issuance date. The Company booked $24,000 as a loss on debt extinguishment. On October 7, 2015, the Company issued 15,700,000 shares of common stock in exchange for the cancellation of $7,065 loan payable. The fair value of the shares issued was $18,840 valued at $0.0012 per share, using the closing prices on the stock issuance date. The Company booked $11,775 as a loss on debt extinguishment. On October 8, 2015, the Company cancelled 100,000,000 shares of common stock issued as compensation to John OShea as stock compensation. The canceled shares were cancelled to employees. On October 19, 2015, the Company issued 18,411,111 shares of common stock in exchange for the cancellation of $8,285 loan payable. The fair value of the shares issued was $31,299 valued at $0.0017 per share, using the closing prices on the stock issuance date. The Company booked $23,014 as a loss on debt extinguishment. On November 5, 2015, the Company issued 90,000,000 shares of common stock in exchange for the cancellation of $9,000 loan payable. The fair value of the shares issued was $36,000 valued at $0.0004 per share, using the closing prices on the stock issuance date. The Company booked $27,000 as a loss on debt extinguishment. Stock Issuance for compensation On October 6, 2015, the Company issued 1,500,000,000 shares of common stock to employees for services. The company issued John O'Shea1,500,000,000 in lieu of salaries valued at $0.0014 per share, using the closing prices on the stock issuance date.(future shares issued from this pool). The Company booked stock compensation expenses of $2,100,000 based on the closing price of the stock issuance date. Stock Cancellation On August 7, 2015, the Company cancelled 50,000,000 shares of common stock issued as compensation to John OShea. The Company booked the cancelation by decreasing common stock and additional paid in capital. On September 30, 2015, the Company cancelled 20,158,108 shares of common stock issued to an unrelated party. The Company booked the cancelation by decreasing common stock and increasing additional paid in capital. On September 30, 2015, the Company cancelled 15,000,000 shares of common stock issued to an unrelated party. The Company booked the cancelation by decreasing common stock and increasing additional paid in capital. On October 8, 2015, the Company cancelled 100,000,000 shares of common stock issued as compensation to John OShea as stock compensation. The canceled shares were cancelled to employees. On November 5, 2015, the Company cancelled 100,000,000 shares of common stock issued as compensation to John OShea as stock compensation. The canceled shares were cancelled to employees. On December 18, 2015, the Company cancelled 820,000,000 shares of common stock issued as compensation to John OShea as stock compensation. The canceled shares were cancelled to employees. |