Quarterly report pursuant to Section 13 or 15(d)

Subsequent Event

v3.20.2
Subsequent Event
9 Months Ended
Sep. 30, 2020
Subsequent Events [Abstract]  
SUBSEQUENT EVENT

NOTE 14 – SUBSEQUENT EVENT

 

On October 6, 2020, the Company entered into a settlement agreement related to the termination of a previous investor relations agreement. In connection with this settlement agreement, the Company issued 1,275,000 restricted common shares of the Company to this consultant. These shares were valued at $10,200, or $0.008 per common share, based on the quoted closing price of the Company's common stock on the measurement date. In connection with this settlement agreement, the Company recorded stock-based consulting fees of $10,200.

 

On October 7, 2020, the Company entered into a six-month consulting agreement for investor relations services to be rendered. In connection with this consulting agreement, the Company issued 9,000,000 restricted common shares of the Company to this consultant. These shares were valued at $76,500, or $0.0085 per common share, based on the quoted closing price of the Company's common stock on the measurement date and will be amortized into stock-based consulting fees over the term of the agreement.

 

On October 9, 2020, the Company issued 500,000 shares of its common stock for strategic consulting services to be rendered. These shares were valued at $6,000, or $0.012 per common share, based on the quoted closing price of the Company's common stock on the measurement date.

 

On October 20, 2020, the Company entered into a subscription agreement with an existing accredited investor whereby the investor agreed to purchase 2,000 shares of the Company's Series C Preferred Stock for $200,000, or $100.00 per share.

 

On November 9, 2020, the Company closed a subscription agreement with an existing accredited investor whereby the investor agreed to purchase 2,500 shares of the Company's Series C Preferred Stock for $250,000, or $100.00 per share.