NOTE 3 - CONVERTIBLE NOTES PAYABLE TO RELATED PARTIES, NET OF DISCOUNTS | Convertible notes payable, net of discounts, all classified as current at February 28, 2017 and November 30, 2016, consists of the following: Convertible notes to related parties, net of discounts February 28, 2017 November 30, 2016 Principal, Principal, Debt net of Debt net of Principal Discount Discounts Principal Discount Discounts AMJ Global, LLC (a) $ 9,935 $ - $ 9,935 $ 9,935 $ - $ 9,935 AMJ Global, LLC 18,128 - 18,128 18,128 - 18,128 AMJ Global, LLC 19,901 - 19,901 19,901 - 19,901 AMJ Global, LLC 6,287 (620 ) 5,667 6,287 (2,170 ) 4,117 Total $ 54,251 $ (620 ) $ 53,631 $ 54,251 $ (2,170 ) $ 52,081 ________ On November 9, 2015, the Company executed a convertible promissory note with Victor Stepanov, the former chief executive officer and director of the Company, for $9,935, in exchange for accrued compensation pursuant to his employment agreement with the Company. The note bears interest at the rate of 12% per annum, which accrues monthly. As of February 28, 2017 and November 30, 2016, the accrued interest was $1,563 and $1,265, respectively. The note matures on November 8, 2016. The note has a conversion feature of $0.02 per share. A beneficial conversion feature of $9,935 was recorded and will be accreted monthly from the issuance date of the note through maturity. As of February 28, 2017 and November 30, 2016, $9,935 and $9,935, respectively, has been recorded as a beneficial conversion feature expense. On March 15, 2016, Mr. Stepanov assigned this convertible promissory note to AMJ Global, LLC ("AMJ Global"). See Notes 5 and 6. On November 9, 2015, the Company executed a convertible promissory note with AMJ Global, a company which is beneficially owned by Dr. Arthur Malone, Jr., the chief executive officer and director of the Company, for $18,128. This note was created due to the assignment of the balance due to shareholder (see Note 5), which was assigned to AMJ Global on November 9, 2015. The note bears interest at the rate of 12% per annum, which accrues monthly. As of February 28, 2017 and November 30, 2016, the accrued interest was $2,854 and $2,310, respectively. The note matures on November 8, 2016. The note has a conversion feature of $0.02 per share. A beneficial conversion feature of $18,128 was recorded and will be accreted monthly from the issuance date of the note through maturity. As of February 28, 2017 and November 30, 2016, $18,128, respectively, has been recorded as a beneficial conversion feature expense. See Note 5. On February 5, 2016, the Company executed a convertible promissory note with AMJ Global for $19,901. This note was in exchange for the payment of certain vendors of the Company. The note bears interest at the rate of 12% per annum, which accrues monthly. As of February 28, 2017 and November 30, 2016, the accrued interest was $2,557 and $1,960. The note matures on February 4, 2017. The note has a conversion feature of $0.02 per share. A beneficial conversion feature of $19,901 was recorded and will be accreted monthly from the issuance date of the note through maturity. As of February 28, 2017, $19,901 has been recorded as a beneficial conversion feature expense. See Note 5. On April 6, 2016, the Company executed a convertible promissory note with AMJ Global for $6,287. This note was in exchange for the payment of certain vendors of the Company. The note bears interest at the rate of 12% per annum, which accrues monthly. As of February 28, 2017 and November 30, 2016, the accrued interest was $682 and $493. The note matures on April 6, 2017. The note has a conversion feature of $0.02 per share. A beneficial conversion feature of $6,287 was recorded and will be accreted monthly from the issuance date of the note through maturity. As of February 28, 2017, $5,667 has been recorded as a beneficial conversion feature expense. See Note 5. |