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5. Capital Stock
12 Months Ended
Dec. 31, 2018
Notes to Financial Statements  
Capital Stock

The Company’s authorized capital is comprised of 3,000,000,000 shares of $0.001 par value Common Stock and 30,000,000 shares of $0.10 par value Preferred Stock, to have such rights and preferences as the Directors of the Company have or may assign from time to time. Out of the authorized Preferred Stock, the Company has designated 850,000 shares as Series “A” Preferred Stock (“Series A”). The Series A is convertible at any time after issuance into 20 shares of the Company's Common Stock with no further consideration, has full voting rights at 20 votes per share, and has superior liquidation rights to the Common Stock. During the year ended December 31, 2015, the Company authorized 500,000 shares of $0.10 par value Series “B” Preferred Stock (“Series B”). The Series B Preferred Stock is non-convertible, non-redeemable and non-retractable. It has superior liquidation rights to the Common Stock at $0.10 per share and gives the holder the right to 1,000 votes per share. All shares of the Series B Preferred Stock are held by the CEO of the Company. Through December 31, 2018 and December 31, 2017, the Company has issued and outstanding a total of 85,652,400312 and 45,936,825 shares of Common Stock, respectively. Through the same periods, the Company has issued and outstanding a total of -0- and -0- shares of Series A Preferred Stock and 500,000 and 500,000 shares of Series B Preferred Stock, respectively. Effective February 1, 2019, the Company completed a 20 to 1 reverse split of its $0.001 par value Common Stock. All stock and price per share amounts in this report have been restated to reflect the 20 to 1 reverse split.

 

During the fiscal year ended December 31, 2018, the Company issued an aggregate of 39,715,575 shares of its Common Stock as follows:

 

●1,000,000 shares for the acquisition of Atlas Pharma, Inc.

●1,456,737 shares for the purchase of laboratory and generic drugs warehouse equipment valued at $174,808

●9,750,000 shares valued at $600,300 as compensation to the Company’s Directors and Officers

●632,500 shares for services rendered to the Company by third parties valued at $75,800

●26,876,338 shares valued at $1,589,099 in connection with the conversion of $684,318 in debt and interest of $32,808 resulting in a $871,973 loss on conversion

 

During the fiscal year ended December 31, 2017, the Company issued an aggregate of 7,466,832 shares of its Common Stock as follows:

 

●1,700,000 shares for cash in the amount of $100,000 Canadian or $78,312 US

●550,208 shares for the purchase of laboratory and generic drugs warehouse equipment valued at $56,700

●2,400,000 shares valued at $336,000 as compensation to the Company’s Directors and Officers

●690,218 shares for services rendered to the Company by third parties valued at $77,000

●2,126,406 shares valued at $128,451 in connection with the conversion of $48,500 in debt and interest of $3,022 resulting in a $76,929 loss on conversion.

 

The Company has declared no dividends since inception.