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SUBSEQUENT EVENTS
3 Months Ended
Dec. 31, 2017
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

During the period commencing January 1, 2018 through February 13, 2018, the Company received $14,400 from 2 investors pursuant to private placement agreements with the investors to purchase 18,000 shares of the Company’s $0.001 par value common stock at a purchase price equal to $0.80 for each share of Common stock .

 

On January 1, 2018, the Company issued warrants to purchase 100,000 shares o f common stock at an exercise price of $0.80 per share to an advisor for business advisory services. The warrants were valued at $234,095 using the Black Scholes option pricing model based upon the following assumptions: term of 5 years, risk free interest rate of 2.01%, a dividend yield of 0% and volatility rate of 158%. The warrants were fully earned and vested on January 1, 2018. 

On January 12, 2018, the Company executed a 58.5% promissory note with a face value of $18,400 with a financial institution. Under the terms of the promissory note the Company received $18,400 and agreed to repay the note and interest evenly over 12 months.

On January 19, 2018, the Company executed a promissory note with a face value of $24,100 with Larry McNeill, a Director of the Company. The note is due on demand and bears interest at a rate of 15% per annum.

On January 19, 2018, an investor exercised warrants to purchase 180,000 shares of the Company’s $0.001 par value common stock at a purchase price equal to $0.083 for each share of Common stock. The Company receive $14,940 as a result of this exercise.

 

On January 19, 2018, an investor exercised warrants to purchase 15,000 shares of the Company’s $0.001 par value common stock at a purchase price equal to $0.363 for each share of Common stock. The Company receive $5,445 as a result of this exercise.

 

On January 29, 2018, an investor exercised warrants to purchase 4,500 shares of the Company’s $0.001 par value common stock at a purchase price equal to $0.363 for each share of Common stock. The Company receive $1,634 as a result of this exercise.

On January 29, 2018, the Company executed a promissory note with a face value of $60,000 with Zachary Bradford, its President and Chief Financial Officer. The note is due on demand and bears interest at a rate of 15% per annum.

On February 7, 2018, we issued 383,279 shares of common stock an investor for the cashless exercise of 456,000 warrants.