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SUBSEQUENT EVENTS AFTER DECEMBER 31, 2018 | 12 Months Ended
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Dec. 31, 2018
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS AFTER DECEMBER 31, 2018 | NOTE 11: SUBSEQUENT EVENTS AFTER DECEMBER 31, 2018 The Company has evaluated subsequent events that occurred through the date of the filing of the Company's 2018 Form 10-K and has determined there are subsequent events as the following: Name Change On April 4, 2019, the Company effected a name change in the State of Colorado from Mining Power Group, Inc. to “Canna Corporation” in preparation for a refocus of its business plan. Similarly, the name change was filed in the State of Florida, where the Company’s headquarters are located. Lawsuits Salcido Enterprises LLC, v Northway. Supreme Court of the State of New York, County of Greene, Case Index No. 18-01082, filed January 10, 2019. Case was dismissed against the Company by the court without prejudice. Atlas Funding v Northway. The Company accrued a liability of $55,000 based on the Company’s attorney’s assessment. This lawsuit was filed due to default debt. Northway Mining, LLC vs. Marsan Properties, Inc. vs. Northway Mining, Supreme Court of the State of New York, County of Greene, Case Index No. 2019-269 filed April 11, 2019. The parties agreed to sign a Stipulation of Settlement wherein the debt on the property is refinanced.. Premier Properties, Inc vs CSX4236 and Northway Mining, LLC. Supreme Court of the State of New York, County of Greene, Case Index No. 18-0825, pertaining to foreclosure on property located at 707 Flats Road, Athens, NY. At this time there is an ongoing negotiation with a potential outcome of selling this property and therefore paying off the debt. This property is no longer used by Northway. Ultegra Financial Partners, Inc vs Northway Mining LLC. District Court of the District of Colorado, was settled in the amount of $680,000 on which the Company paid $30,000 and the remaining amount shall be paid with the sale of some of the Company’s assets, accordingly the Settlement Agreement and Releases executed on February 22, 2019. 9384-2557 Quebec Inc, Minedmap, Inc and Serenity Alpha, LLC - Husk Mining, LLC vs Northway Mining LLC and others. United States District Court for the Eastern District of New York, Case No. 1:19-CV-1994, filed on April 7, 2019. Case involves several causes of action and open-ended claims. Case is pending. Grand Capital vs. Northway Mining LLC and others. Supreme Court of the State of New York County of Steuben, Index No. E2019-0138CV, filed on February 5, 2019. Claim is for $75,225, case is pending. According to the Company’s attorney’s legal opinion, the Company accrued a liability of $28,000. Issuance of Common Stock and Preferred Series A Conversions On January 28, 2019 the Company issued 60,000,000 shares of common stock to Mr. Dror Svorai, for conversion of 60,000 Preferred A Stock shares. On February 1, 2019 the Company issued 3,000,000 to Mr. Gary Berlly, On January 16, 2019 Firstfire Global Opportunities Fund, LLC, declare default in the amount of $100,000 and then sold all of its potentially dilutive convertible note in the amount of $310,000 to Back Nine Capital, LLC, Mr. Gary Berlly, One Investment Capital, Inc and Sign N Drive Auto Mall, Inc, and each of them purchased $52,500 of the updated value of the note. Between February 22 and February 23, 2019 each of the new holders converted $39,000 on each of their respective $52,500, into 3,000,000 shares of common stock at a value of $0.01300 per share, totaling then 12,000,000 shares of common stock at the above indicated value per share. On January 22, 2019 Eagle Equities LLC, declare default in the amount of $32,107.68 and the note issued as of July 3, 2018 $100,000 and then sold all of its potentially dilutive convertible note included default and interest of $7,892.32 in the amount of $140,000 to M Svorai Investments, Inc, a related party. On February 2, 2019 M Svorai Investments, Inc, a related party, converted $140,000 in 5,162,242 shares of common stock at the value of $0.02712 per share. On March 15, 2019 the Company issued 40,000,000 shares of common stock to Mr. Dror Svorai, for conversion of 40,000 Preferred A Stock shares. On March 22, 2019 the Company issued 50,000,000 shares of common stock to Mr. Dror Svorai, for conversion of 50,000 Preferred A Stock shares.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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