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11. SUBSEQUENT EVENTS
6 Months Ended
Jul. 31, 2018
Notes  
11. SUBSEQUENT EVENTS

NOTE 11 - SUBSEQUENT EVENTS

 

Conversion notices were filed on August 2, 2018, August 17, 2018 and September 4, 2018 in the amount to $15,000 each where the company issued 6,993,007, 4,702,194 and 4,470,939 common shares respectively reducing the total amount of loan to $114,000. This investor extended the note until October 14, 2018.

 

A conversion dated August 8, 2018 that was filed to convert part of $17,875 due under a note that was dated August 23, 2017 into 6,500,000 common shares. Additional conversion was submitted on same loan on August 24 and 3,322,634 shares were issued.

 

On August 22, 2018 the Company sent an Amendment to the APT SYSTEMS 10B-18 STOCK REPURCHASE PLAN. The company (Apt Systems Inc) and the broker dealer (Wilson Davis and Co. Inc) agreed to suspend the stock repurchase plan until 12/1/2018. This amendment was voluntarily entered into by both parties. The company intends to return shares currently in the account to Treasury.

 

On August 28, 2018 the company accepted two additional loans for combined total of $50,000 from two individual investors. The notes are due and payable twelve months from the issuance date and bears interest at 8% per annum with no original issuance discount but includes $1,000 of legal fees due at closing. If the Note is paid off prior to the due date, the Company is required to pay the face amount plus a penalty up to 30%. The Note is convertible into the shares of the Company’s common stock. The conversion rate is equal to the 70% of the lowest trading price the five trading days prior to conversion.

 

On August 28, 2018 the company entered into an advertising agreement with Cicero Consulting Group for a combination of payments including $75,000 note and issuance of $75,000 worth of preferred shares. The note is due six months following issuance and carries an interest rate of 8%.  The note is convertible at any time at a 30% discount to the market based on the lowest trading price in the five days prior to conversion.