SUBSEQUENT EVENTS |
9 Months Ended |
|---|---|
Sep. 30, 2020 | |
| SUBSEQUENT EVENTS | |
| NOTE 10 - SUBSEQUENT EVENTS | In October 2020, the Company entered in a settlement agreement with one of its creditors. The agreement extinguishes the Company’s debt of $138,901, included in liabilities of discontinued operations, for $13,891.
On October 22, 2020, Sean C. Clarke resigned as a member of the Board of the Company.
In addition, the Company redeemed 7,500 of the Company’s Series A Convertible Preferred Stock owned by Mr. Clarke (representing all of Mr. Clarke’s Series A Convertible Preferred Stock) for $2,000 and issued Mr. Clarke 100,000 shares of the Company’s common stock.
In accordance with ASC Topic 855, “Subsequent Events”, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued, the Company has evaluated all events or transactions that occurred after September 30, 2020 up through the date of the these condensed consolidated financial statements. |