v2.4.1.9

SUBSEQUENT EVENTS | 9 Months Ended
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Mar. 31, 2015
SUBSEQUENT EVENTS |
SUBSEQUENT EVENTS | 13. SUBSEQUENT EVENTS The Company has evaluated all events that occurred after the balance sheet date through the date when the consolidated financial statements were issued to determine if they must be reported. The Management of the Company determined that the following was a significant event. Issuance of Debt On April 1, 2015, the Company issued a note for $30,000 for consulting services. The convertible promissory note bears no interest and matures on October 31, 2015. The third party has the option to convert all or a portion of the note plus accrued interest into common stock at a conversion price equal to 50% of the lowest closing bid price for the twenty days prior to the conversion. As of the date of this filing, there have been no conversions of this Note and the entire amount is outstanding. On May 1, 2015, the Company issued a note for $30,000 for consulting services. The convertible promissory note bears no interest and matures on November 30, 2015. The third party has the option to convert all or a portion of the note plus accrued interest into common stock at a conversion price equal to 50% of the lowest closing bid price for the twenty days prior to the conversion. As of the date of this filing, there have been no conversions of this Note and the entire amount is outstanding. Issuance of Common stock Subsequent to the Balance Sheet date, the Company has issued 109,166,667 shares of common stock for the retirement of $5,500 of convertible debt and $300 of associated expenses.

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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 No definition available. + Details
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