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3. Stockholders' Equity/Deficit
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9 Months Ended | |||
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Sep. 30, 2014
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| Equity [Abstract] | ||||
| STOCKHOLDERS' EQUITY/DEFICIT |
The Stockholders’ Equity/Deficit section of the Company contains the following classes of Capital Stock as of September 30, 2014.
On August 14, 2014, 21,000,000 shares were returned to the Company in anticipation of the acquisition of A1 Vapors, Inc.
On August 14, 2014, the Company entered into a Share Exchange Agreement (the ‘Share Exchange Agreement”) with selling stockholders named in the prospectus, pursuant to which the Company offered and sold an aggregate of 21,000,000 shares of common stock to all the stockholders of A-1 Vapors, Inc., a Florida corporation (“A-1 Vapors”).
As a result of the Reverse Merger with A-1 Vapors, Inc. and Freebutton, Inc. carried forward 12,844,260 commons shares, and subscription receivable representing 272,336 common shares valued at $342,231 in net liabilities assumed of Freebutton, Inc. prior to August 14, 2014. The net liabilities consisted of $36,613 in cash, $24,749 in accrued liabilities and $354,095 in promissory notes and $24,749 in accrued liabilities.
On August 14, 2014, the Company converted $10,851 of debt in Subscription receivables to issue 72,336 common shares through a debt conversion agreement at $0.15 per share.
On September 25, 2014, the Company received $22,800 in Subscription receivables to issue 152,000 common shares through a private placement at $0.15 per share.
Subsequent to the period on October 6, 2014, the Company received $$27,200 in Subscription receivables to issue 181,333 common shares through a private placement at $0.15 per share. |