Subsequent Events | NOTE 6 – SUBSEQUENT EVENTS Default and Conversion of Convertible Note On August 15, 2017, the Company failed to file Form 10-Q for the three months ended June 30, 2017 with the SEC. As a result, the Convertible Note with Trident failed to meet covenant 3.9 “Failure to Comply with the 1934 Act,” triggering an event of default and requiring payment of default interest at an annual rate of 15%. On February 8, 2018, Trident assigned the Convertible Note issued by the Company on April 15, 2017 to Global Startup League LLC (“Global”) a Florida Limited Liability Company. As of the date of the assignment, the Company had not paid any principal or interest and the Convertible Note remained in default. On August 6, 2018, GLOBAL filed a Complaint in the Superior Court for the District of Columbia, styled Global Startup League, LLC v. Protect Pharmaceutical Corporation, alleging that the Company had breached the Convertible Note and owed Global $100,000, plus default interest of at least 15% annually as provided for in the Convertible Note, along with the related attorney’s fees. The Company reached a settlement with Global on September 14, 2018, including a release, and had the Company’s transfer agent issue 246,918 shares of Common Stock to Global on December 11, 2018 to satisfy the obligation in full. Affirmed and Ratified: July 7, 2018 - 8-K filed: July 7, 2018 - 8-K filed: October 9, 2018 - Loan: November 13, 2018 - SEC 8-K filing: December 10, 2018 - SEC 8-K Filing: December 17, 2018 - Loan: Misc. dates - Contracts: Disaffirmed and Cancelled, Or Never Came Into Legal Effect: June 5, 2018 - Change of primary operating entity and business model: September 14, 2018 – Press Release: October 20, 2018 - Merger/Acquisition: October 2, 2018 - Press Release: November 27, 2018 - Private Placement: November 28, 2018 - Merger/Acquisition: December 7, 2018 - Press Release: Recent Issuances of Securities: 18,839,918 shares of common stock (including 3,000,000 of restricted shares) and 1,000,000 shares of preferred stock were subsequently issued in 2018 as follows: September 11, 2018: 10,393,000 shares of common stock to Yvette Sanchez. November 27, 2018: 3,000,000 restricted shares of common stock were subsequently issued to Eight Dragons Capital. November 13, 2018: 1,000,000 shares of preferred stock were subsequently issued to Una Taylor. December 11, 2018: 246,918 shares of common stock were subsequently issued to Global Startup League as payment for the value of a convertible note per a settlement agreement dated September 14, 2018. December 13, 2018: 200,000 shares of common stock were subsequently issued to Sing for Hope Inc. As of December 31, 2018, we have outstanding a total of 19,951,378 shares of common stock and 1,000,000 shares of preferred stock. |