Subsequent Event |
6 Months Ended |
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Jun. 30, 2020 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENT |
NOTE 14 – SUBSEQUENT EVENT
Shares issued for services
On July 1, 2020, the Company entered into a six-month consulting agreement with an entity for investor relations services. In connection with this consulting agreement, the Company issued 500,000 restricted common shares of the Company to the consultant. These shares vest immediately. These shares were valued at $6,500, or $0.013 per common share, based on contemporaneous common share sales by the Company.
Common stock issued for cash
In connection with subscription agreements dated July 2, 2020, the Company received cash proceeds of $280,000 from investors for the purchase of 21,538,462 shares of the Company's common stock at $0.013 per share.
Common stock issued for debt conversion
On July 15, 2020, the Company issued 7,500,000 shares its common stock upon the conversion of principal of $23,551, accrued interest of $2,449, and fees of $250. The conversion price was based on contractual terms of the related debt.
On August 5, 2020, Company issued 7,500,000 shares its common stock upon the conversion of principal of $27,656, accrued interest of $2,094, and fees of $250. The conversion price was based on contractual terms of the related debt.
Common stock issued for conversion of Series A preferred shares
On July 16, 2020, the Company issued 1,561,224 shares its common stock upon the conversion of 15,000 shares of Series A preferred with a stated redemption value of $15,000 and related accrued dividends payable of $300. On July 20, 2020, the Company issued 1,800,000 shares its common stock upon the conversion of 15,000 shares of Series A preferred with a stated redemption value of $15,000 and related accrued dividends payable of $300. On July 22, 2020, the Company issued 1,936,709 shares its common stock upon the conversion of 15,000 shares of Series A preferred with a stated redemption value of $15,000 and related accrued dividends payable of $300. On July 24, 2020, the Company issued 852,152 shares its common stock upon the conversion of 6,600 shares of Series A preferred with a stated redemption value of $6,600 and related accrued dividends payable of $132. The conversion price was based on contractual terms of the related Series A preferred shares. |