Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2017 | Jul. 21, 2017 | |
FIXED ASSETS [Abstract] | ||
Entity Registrant Name | WEST COAST VENTURES GROUP CORP. | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 15,088,544 | |
Amendment Flag | false | |
Entity Central Index Key | 1,551,906 | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Filer Category | Smaller Reporting Company | |
Entity Well-known Seasoned Issuer | No | |
Document Period End Date | Mar. 31, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q1 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 |
Current Assets: | ||
Cash and cash equivalents | $ 353 | $ 0 |
Total Current Assets | 353 | 0 |
Intangibles assets, net | 3,498 | 4,306 |
TOTAL ASSETS | 3,851 | 4,306 |
Current Liabilities: | ||
Accounts payable | 32,532 | 43,714 |
Accrued payroll | 111,814 | 111,814 |
Accrued interest | 29,595 | 25,122 |
Promissory notes | 53,372 | 33,848 |
Note payable | 250,000 | 250,000 |
Total Current Liabilities | 477,313 | 464,498 |
Convertible note, net of unamortized discounts of $21,340 and $23,478 | 29,881 | 23,478 |
Total Liabilities | 507,194 | 487,976 |
Stockholders' Deficit: | ||
Preferred stock, $.001 par value. Authorized 10,000,000 shares, no shares issued and outstanding. | 0 | 0 |
Common stock, $.001 par value. Authorized 250,000,000 shares, 15,088,544 shares issued and outstanding | 15,088 | 15,088 |
Additional paid in capital | 474,332 | 474,332 |
Accumulated deficit | (992,763) | (973,090) |
Total Stockholders' Deficit | (503,343) | (483,670) |
TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT | $ 3,851 | $ 4,306 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 |
Preferred Stock | ||
Preferred stock par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in Shares) | 10,000,000 | 10,000,000 |
Preferred stock, shares issued (in Shares) | 0 | 0 |
Preferred stock, shares outstanding (in Shares) | 0 | 0 |
Common Stock | ||
Common stock par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in Shares) | 250,000,000 | 250,000,000 |
Common stock, shares issued (in Shares) | 15,088,544 | 15,088,544 |
Common stock, shares outstanding (in Shares) | 15,088,544 | 15,088,544 |
Convertible note, net of unamortized discounts | $ 21,340 | $ 27,743 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Revenue | ||
Revenues | $ 0 | $ 0 |
Operating Expenses | ||
Depreciation and Amortization | 808 | 20,833 |
General & Administrative Expenses | 1,368 | 37,728 |
Professional Fees | 6,621 | 13,586 |
Total Operating Expenses | 8,797 | 72,147 |
Loss from operations | (8,797) | (72,147) |
Other Expense | ||
Interest Expense | (10,877) | (8,031) |
Loss Before Provision for Income Taxes | (19,674) | (80,178) |
Provision for Income Taxes | 0 | 0 |
Net Loss | $ (19,674) | $ (80,178) |
Net Loss Per Share: Basic and Diluted | ||
Total Net Loss Per Share: Basic and Diluted | $ 0 | $ (.91) |
Weighted average number of Shares Outstanding: Basic and Diluted | 15,088,544 | 88,544 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (19,674) | $ (80,178) |
Adjustments to reconcile Net Loss to net cash provided by operations: | ||
Depreciation and amortization | 808 | 20,833 |
Amortization of debt discount | 6,403 | 4,269 |
Changes in current assets and liabilities: | ||
Accounts payable | (11,182) | 11,153 |
Accrued payroll | 0 | 35,000 |
Accrued interest | 4,474 | 3,762 |
Net Cash Used in Operating Activities | (19,171) | (5,161) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from promissory notes | 19,524 | 5,161 |
Net cash provided by Financing Activities | 19,524 | 5,161 |
Net decrease in cash and cash equivalents | 353 | 0 |
Cash and cash equivalents at beginning of period | 0 | 0 |
Cash and cash equivalents at end of period | 353 | 0 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Income taxes paid | 0 | 0 |
Interest paid | 0 | 0 |
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING INFORMATION: | ||
Promissory note exchanged for a convertible note payable | 0 | 51,221 |
Debt discount on convertible note payable for imputed interest | $ 0 | $ 51,221 |
NOTE 1 - BACKGROUND INFORMATION
NOTE 1 - BACKGROUND INFORMATION | 3 Months Ended |
Mar. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
NOTE 1 - BACKGROUND INFORMATION | NOTE 1 - BACKGROUND INFORMATION Organization and Business West Coast Ventures Group Corp. (“our”, “us”, “we” or the “Company”) was originally incorporated as Energizer Tennis, Corp. on June 16, 2011 in the State of Nevada. The Company has focused on investing in and acquiring technology companies within the United States and abroad, as well as, discovering existing synergies that offer the opportunity to expand the company’s footprint in order to create revenues and profits. Through its wholly-owned subsidiary, GameRevz, Inc. ("GameRevz") the company has focused on the US based, online video gaming and entertainment industry. On February 4, 2016, Energizer Tennis, Corp. filed Articles of Merger with the Nevada Secretary of State whereby it entered into a statutory merger with its wholly-owned subsidiary, West Coast Ventures Group Corp. The effect of such merger is that the Company was the surviving entity and changed its name to “West Coast Ventures Group Corp.” On December 30, 2016, our board of directors approved a change in our company's fiscal year end, moving from April 30 to December 31 of each year. |
NOTE 2 - SUMMARY OF SIGNIFICANT
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Mar. 31, 2017 | |
Accounting Policies [Abstract] | |
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, the unaudited interim consolidated financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments consisting of normal recurring entries necessary for a fair statement of the periods presented for: (a) the financial position; (b) the result of operations; and (c) cash flows, have been made in order to make the unaudited interim consolidated financial statements presented not misleading. The results of operations for such interim periods are not necessarily indicative of operations for a full year. The accompanying unaudited interim consolidated financial statements should be read in conjunction with the financial statements and related notes included in the Company’s Transition Report on Form 10-KT, for the transition period ended December 31, 2016, as filed with the SEC on July 5, 2017. Principles of Consolidation The consolidated financial statements of the Company include the accounts of the Company and its wholly-owned subsidiary, GameRevz, Inc., a Nevada corporation. All significant intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions that affect (i) the reported amounts of assets and liabilities, (ii) the disclosure of contingent assets and liabilities known to exist as of the date the financial statements are published, and (iii) the reported amount of net revenues and expenses recognized during the periods presented. Adjustments made with respect to the use of estimates often relate to improved information not previously available. Uncertainties with respect to such estimates and assumptions are inherent in the preparation of financial statements; accordingly, actual results could differ from these estimates. The Company’s most significant estimates relate to the valuation of its intangible assets and the valuation of its common stock. Recent Accounting Pronouncements The Company has reviewed recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on our financial statements. |
NOTE 3 - GOING CONCERN
NOTE 3 - GOING CONCERN | 3 Months Ended |
Mar. 31, 2017 | |
Note 3 - Going Concern | |
NOTE 3. GOING CONCERN | NOTE 3 - GOING CONCERN The Company’s financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. As of March 31, 2017, the Company does not have products available for sale or have established an ongoing source of revenue. As a result, the Company has a net loss, negative operating cash flow, and an accumulated deficit. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations. Management’s plan to obtain such resources for the Company include, obtaining loans from management and stockholders to meet its minimal operating expenses and raising equity funding, and/or merging with another company. The Company plans a merger pursuant to certain closing conditions, with Nixon Restaurant Group, Inc. However, management cannot provide any assurance that the Company will be successful in accomplishing any of its plans. There is no assurance that the Company will be able to obtain sufficient additional funds when needed or that such funds, if available, will be obtainable on terms satisfactory to the Company. In addition, profitability will ultimately depend upon the level of revenues received from business operations. However, there is no assurance that the Company will attain profitability. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
NOTE 4 - INTANGIBLES
NOTE 4 - INTANGIBLES | 3 Months Ended |
Mar. 31, 2017 | |
Finite-Lived Intangible Assets, Net [Abstract] | |
NOTE 4 - INTANGIBLES | NOTE 4 – INTANGIBLES As of March 31, 2017 and December 31, 2016, intangibles consisted of: March 31, December 31, 2017 2016 Viralpwnage.com $ 89,792 $ 89,792 Less accumulated amortization 86,294 85,486 Intangibles, net $ 3,498 $ 4,306 The intangible assets are amortized over an estimated useful life of 3 years. Amortization expenses were $808 and $20,833 for the three months ended March 31, 2017 and 2016, respectively. No impairment of intangibles was recognized for the three months ended March 31, 2017. |
NOTE 5 - NOTES PAYABLE
NOTE 5 - NOTES PAYABLE | 3 Months Ended |
Mar. 31, 2017 | |
Debt Disclosure [Abstract] | |
NOTE 5 - NOTES PAYABLE | NOTE 5 – NOTES PAYABLE Promissory Notes During the three months ended March 31, 2017, unrelated parties advanced funds in the amount of $19,524 to fund operations and provide working capital. Unpaid balances are due on demand and accrue an annual interest rate of 5%. As of March 31, 2017 and December 31, 2016, the promissory notes totaled $53,372 and $33,848, respectively. During the three months ended March 31, 2017 and 2016, the interest expense was $886 and $215, respectively. As of March 31, 2017 and December 31, 2016, accrued interest was $3,202 and $2,316, respectively. Note Payable The Company had the following note payable outstanding as of March 31, 2017 and December 31, 2016: March 31, December 31, 2017 2016 Note dated April 30, 2015, to Warwick Overseas, LLC, interest at 5%, due in two installments of $125,000 at the end of each year, term of two years 250,000 250,000 $ $ Total note payable 250,000 250,000 Less current portion of note payable 250,000 250,000 Long-term portion of note payable $ - $ - On April 30, 2017, the Warwick Overseas, LLC, agreed to extend the note for an additional one year term to April 30, 2018. During the three months ended March 31, 2017 and 2016, interest expense was $3,082 and $3,116, respectively. As of March 31, 2017 and December 31, 2016, accrued interest is $24,007 and $20,925 respectively. |
NOTE 6 - CONVERTIBLE NOTE
NOTE 6 - CONVERTIBLE NOTE | 3 Months Ended |
Mar. 31, 2017 | |
Convertible Notes Payable [Abstract] | |
NOTE 6 - CONVERTIBLE NOTE | NOTE 6 – CONVERTIBLE NOTE On January 31, 2016, the Company issued convertible notes of $51,221 for the payment of promissory notes of $51,211. Unpaid balances are due on January 31, 2018 and accrue an annual interest at the rate of 4%. The Holders have the right, at any time to convert any part of outstanding Principal balance of this note into shares of the Company’s common stock at a conversion rate of $0.01 per share. March 31, December 31, 2017 2016 Convertible Notes $ 51,221 $ 51,221 Less unamortized note discount (21,340) (27,743) 29,881 23,478 Less current portion of convertible note - - Long-term convertible note payable $ 29,881 $ 23,478 On issuance of the note, the Company recorded as discount on the convertible note due to a beneficial conversion feature of $51,221. During the three months ended March 31, 2017 and 2016, the amortization on the convertible note discount recorded as interest expense is $6,403 and $4,289, respectively. During the three months ended March 31, 2017 and 2016, the interest expense accrued on the convertible notes is $506 and $431, respectively. As of March 31, 2017 and December 31, 2016, the convertible notes had accrued interest of $2,386 and $1,880, respectively. |
NOTE 7 - RELATED PARTY TRANSACT
NOTE 7 - RELATED PARTY TRANSACTIONS | 3 Months Ended |
Mar. 31, 2017 | |
Related Party Transactions [Abstract] | |
NOTE 7 - RELATED PARTY TRANSACTIONS | NOTE 7 - RELATED PARTY TRANSACTIONS As of March 31, 2017 and December 31, 2016, the Company accrued salaries to officers and directors of $111,814. |
NOTE 8 - SUBSEQUENT EVENTS
NOTE 8 - SUBSEQUENT EVENTS | 3 Months Ended |
Mar. 31, 2017 | |
Subsequent Events [Abstract] | |
NOTE 8 - SUBSEQUENT EVENTS | NOTE 8 – SUBSEQUENT EVENTS On December 30, 2016, the Company entered into a Definitive Share Exchange Agreement (the “Agreement”) with James M. Nixon (“Nixon”) and Nixon Restaurant Group, Inc., a Florida corporation (“NRG”) pursuant to which our company will exchange 12,100,000 shares of our common stock for 60,500,000 shares of NRG Common Stock, $0.0001 par value per share, which represents all of the issued and outstanding capital stock of NRG. In addition, our company will issue 500,000 shares of our preferred stock to Nixon as compensation for completing the transaction. This preferred stock which shall be designated as Series A Preferred Stock shall have no dividend, liquidation, or conversion rights, but will have voting rights of 100,000 votes per share of Series A Preferred Stock, an aggregate equal to 50,000,000,000 shares of our company’s common stock. The closing of transaction described in the Agreement is subject to several conditions precedent as follows: Our company must, among other actions, (i) file our delinquent filings with the Securities and Exchange Commission (the “SEC”) including the Form 10-K Annual Report for the year ended April 30, 2016 and the Form 10-Q Annual Reports for the periods ended July 31, 2016 and October 31, 2016; (ii) effectuate the cancelation of 60,000 shares of our common stock owned by Mayya Khalay; (iii) file a Certificate of Designation of the Series A Preferred Stock with the Nevada Secretary of State; and (iv) effectuate a change of our fiscal year to December 31. NRG must, among other actions, (v) Deliver to our company audited consolidated financial statements for the two year periods ended December 31, 2015 and 2014 as well as reviewed consolidated financial statements for the nine month periods ended September 30, 2016 and 2015, each in format and content as required under the Rules of the SEC. Following closing of the transaction NRG will operate as wholly owned subsidiary of our company. |
NOTE 2 - SUMMARY OF SIGNIFICA14
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Mar. 31, 2017 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying unaudited interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, the unaudited interim consolidated financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments consisting of normal recurring entries necessary for a fair statement of the periods presented for: (a) the financial position; (b) the result of operations; and (c) cash flows, have been made in order to make the unaudited interim consolidated financial statements presented not misleading. The results of operations for such interim periods are not necessarily indicative of operations for a full year. The accompanying unaudited interim consolidated financial statements should be read in conjunction with the financial statements and related notes included in the Company’s Transition Report on Form 10-KT, for the transition period ended December 31, 2016, as filed with the SEC on July 5, 2017. |
Principals of Consolidation | Principles of Consolidation The consolidated financial statements of the Company include the accounts of the Company and its wholly-owned subsidiary, GameRevz, Inc., a Nevada corporation. All significant intercompany balances and transactions have been eliminated in consolidation. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions that affect (i) the reported amounts of assets and liabilities, (ii) the disclosure of contingent assets and liabilities known to exist as of the date the financial statements are published, and (iii) the reported amount of net revenues and expenses recognized during the periods presented. Adjustments made with respect to the use of estimates often relate to improved information not previously available. Uncertainties with respect to such estimates and assumptions are inherent in the preparation of financial statements; accordingly, actual results could differ from these estimates. The Company’s most significant estimates relate to the valuation of its intangible assets and the valuation of its common stock. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements The Company has reviewed recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on our financial statements. |
NOTE 4 - INTANGIBLES (Tables)
NOTE 4 - INTANGIBLES (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Finite-Lived Intangible Assets, Net [Abstract] | |
Intangibles | March 31, December 31, 2017 2016 Viralpwnage.com $ 89,792 $ 89,792 Less accumulated amortization 86,294 85,486 Intangibles, net $ 3,498 $ 4,306 |
NOTE 5 - NOTES PAYABLE (Tables)
NOTE 5 - NOTES PAYABLE (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Debt Disclosure [Abstract] | |
Note Payable | March 31, December 31, 2017 2016 Note dated April 30, 2015, to Warwick Overseas, LLC, interest at 5%, due in two installments of $125,000 at the end of each year, term of two years 250,000 250,000 $ $ Total note payable 250,000 250,000 Less current portion of note payable 250,000 250,000 Long-term portion of note payable $ - $ - |
NOTE 6 - CONVERTIBLE NOTE (Tabl
NOTE 6 - CONVERTIBLE NOTE (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Convertible Notes Payable [Abstract] | |
Convertible Note | March 31, December 31, 2017 2016 Convertible Notes $ 51,221 $ 51,221 Less unamortized note discount (21,340) (27,743) 29,881 23,478 Less current portion of convertible note - - Long-term convertible note payable $ 29,881 $ 23,478 |
NOTE 2 - SUMMARY OF SIGNIFICA18
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Accounting Policies [Abstract] | ||||
Cash and Cash Equivalents | $ 353 | $ 0 | $ 0 | $ 0 |
NOTE 4 - INTANGIBLES (Details)
NOTE 4 - INTANGIBLES (Details) - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 |
Finite-Lived Intangible Assets, Net [Abstract] | ||
Viralpwnage.com | $ 89,792 | $ 89,792 |
Less accumulated amortization | 86,294 | 85,486 |
Intangibles, net | $ 3,498 | $ 4,306 |
NOTE 4 - INTANGIBLES (Details N
NOTE 4 - INTANGIBLES (Details Narrative) - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Finite-Lived Intangible Assets, Net [Abstract] | ||
Intangible assets are amortized over an estimated useful life | 3 years | |
Impairment loss of intangibles | $ 0 | |
Amortization expenses of intangibles | $ 808 | $ 20,833 |
NOTE 5 - NOTES PAYABLE - Note P
NOTE 5 - NOTES PAYABLE - Note Payable (Details) - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 |
Debt Disclosure [Abstract] | ||
Note dated April 30, 2015, to Warwick Overseas, LLC, interest at 5%, due in two installments of $125,000 at the end of each year, term of two years | $ 250,000 | $ 250,000 |
Total note payable | 250,000 | 250,000 |
Less current portion of Note payable | 250,000 | 250,000 |
Total-term portion of note payable | $ 0 | $ 0 |
NOTE 5 - NOTES PAYABLE (Details
NOTE 5 - NOTES PAYABLE (Details Narrative) - USD ($) | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Promissory Note | |||
Unrelated party advance | $ 19,524 | ||
Note total | $ 53,372 | $ 33,848 | |
Interest rate on unrelated party advance | 5.00% | ||
Convertible Note Payable | |||
Accrued interest on convertible note payable | $ 24,007 | $ 20,925 | |
Interest expense | $ 3,082 | $ 3,116 |
NOTE 6 - CONVERTIBLE NOTE (Deta
NOTE 6 - CONVERTIBLE NOTE (Details) - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 |
Convertible Notes Payable [Abstract] | ||
Convertible Notes | $ 51,221 | $ 51,221 |
Less unamortized notes discount | (21,340) | (27,743) |
Current portion of convertible note | 29,881 | 23,478 |
Less current portion of convertible notes | 0 | 0 |
Long-term convertible notes payable, net of current portion | $ 29,881 | $ 23,478 |
NOTE 6 - CONVERTIBLE NOTE (De24
NOTE 6 - CONVERTIBLE NOTE (Details Narrative) - USD ($) | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Convertible Note Payable | |||
Conversion rate of convertible note | $ 0.01 | ||
Interest rate of convertible note | 4.00% | ||
Interest expense from amortization on the convertible note discount | $ 6,403 | $ 4,289 | |
Interest expense on convertible note | 506 | $ 431 | |
Accrued interest on convertible note | $ 2,386 | $ 1,880 |
NOTE 7 - RELATED PARTY TRANSA25
NOTE 7 - RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 |
Related Party Transactions [Abstract] | ||
Accrued salaries to officers and directors | $ 111,814 | $ 111,814 |
NOTE 8 - SUBSEQUENT EVENTS (Det
NOTE 8 - SUBSEQUENT EVENTS (Details Narrative) | Dec. 30, 2016shares |
Notes Payable [Member] | |
Nixon Restaurant Group, Inc., acquired for WCVC common shares | 12,100,000 |
Nixon Restaurant Group, Inc., acquired for WCVC preferred series A shares | 500,000 |
Votes per preferred series A share | 100,000 |
Cancellation of shares, shares | 50,000 |