NOTE 8: SUBSEQUENT EVENTS |
6 Months Ended |
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Jun. 30, 2017 | |
| Subsequent Events [Abstract] | |
| Subsequent Events [Text Block] |
NOTE 8: SUBSEQUENT EVENTS
On August 1, 2017 a Florida judge overruled a jurys verdict and found the company not guilty of any wrongdoing in the case of Soffin v’s Clean Coal Technologies Inc. He also reversed the financial award of $121,000 that was previously made against the company. The company will reflect this reversal and credit back to our expense line in the next quarterly filings. As at filing date the company is assessing whether to claim all legal costs form the plaintiff following this seven year legal case.
In July 2017, following lengthy discussions with a vendor a mutual release was signed that released the company from paying $471,000 that was previously recorded in the company’s books and records. This reversal will be booked and reflected in the next quarter financials.
In July 2017, the company engaged in an additional funding agreement with Black Diamond Financial Group for $275,000. This advancement was made under the same terms as the previous advancements under Series E
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