NOTE 8: SUBSEQUENT EVENTS |
9 Months Ended |
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Sep. 30, 2015 | |
| Subsequent Events [Abstract] | |
| Subsequent Events [Text Block] |
NOTE 8: SUBSEQUENT EVENTS
From October 2015, through to January 2016, the company issued a further 214,286 shares of common stock for services rendered by both management and third parties.
The 12% remaining balance outstanding on the convertible note from 802 Investments was bought back for a total cost of $139,000 in October 2015.
From October 2015, through to January 2016 the company engaged in a financing transaction with Black Diamond Financial Group for a total of $1,588,500 net of original issue discounts. The terms of the transaction is a 12% secured convertible notes, which enable Black diamond to convert into common stock shares at a fixed price of $0.08. The notes are also convertible into 3 year common stock warrants at a rate of $0.08 per warrant. The warrants will be exercisable at $0.10 per share.
The above securities were issued in reliance on the exemption from registration pursuant to Section 4(2) of the Securities Act of 1933, as amended, and the regulations promulgated thereunder. The issuances were for investment received, the transactions were privately negotiated and none involved any kind of public solicitation.
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