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17. SUBSEQUENT EVENTS | 3 Months Ended
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Dec. 31, 2018
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | Effective January 1, 2019, the Company entered into an agreement with a broker dealer for general financial advisory services. The term of the agreement is from January 1, 2019 until December 31, 2019. As compensation, the Company issued 25,000 shares of its common stock which was valued at $77,250, based upon the trading price of $3.09 on December 31, 2019. On January 14, 2019, the Company extended its current agreement for advisory and investment banking services with a registered broker dealer, which initially expired April 2019. The agreement was extended through April 2020. As compensation, the Company issued 50,000 shares of its common stock which was valued at $212,500, based upon the trading price of $4.25 on January 14, 2019. On April 19, 2019, following approval by our shareholders at the 2019 annual meeting held on April 19, 2019, we filed Articles of Amendment to our Articles of Incorporation changing the name of our company to “cbdMD, Inc.” effective May 1, 2019. Concurrent with the name change, the CUSIP number of our common stock will be changed to 12482W1018 and the symbol for our common stock which is listed on the NYSE American will be changed to “YCBD.” In addition, the shareholders of Level Brands, Inc. approved the issuance of an aggregate of 15,250,000 shares of our common stock pursuant to the rights granted as consideration for the mergers which closed on December 20, 2018 pursuant to the terms of the Agreement and Plan of Merger dated December 3, 2018 by and among our company, our wholly-owned subsidiaries and Cure Based Development, LLC.

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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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