Debt Conversion by Related Party
On March 2, 2015, the Company issued 64,000,000 shares of Class A Common Stock pursuant to the conversion of $21,416.10 of convertible debt held by GG Mars, a company owned by our CEO’s family member, a related party, which consisted of $18,750 of principal and $2,666.10 of interest. The note was converted in accordance with the conversion terms; therefore no gain or loss has been recognized.
On March 3, 2015, the Company issued 44,000,000 shares of Class A Common Stock pursuant to the conversion of $3,300 of convertible debt held by Star Financial, a company owned by our CEO’s family member, a related party, which consisted of $3,300 of principal. The note was converted in accordance with the conversion terms; therefore no gain or loss has been recognized.
On March 11, 2015, the Company issued 22,000,000 shares of Class A Common Stock pursuant to the conversion of $1,650 of convertible debt held by Star Financial, a company owned by our CEO’s family member, a related party, which consisted of $1,650 of principal. The note was converted in accordance with the conversion terms; therefore no gain or loss has been recognized.
On March 24, 2015, the Company issued 40,000,000 shares of Class A Common Stock pursuant to the conversion of $4,666.10 of convertible debt held by GG Mars, a company owned by our CEO’s family member, a related party, which consisted of $2,000 of principal and $2,666.10 of interest. The note was converted in accordance with the conversion terms; therefore no gain or loss has been recognized.
On April 3, 2015, the Company issued 57,000,000 shares of Class A Common Stock pursuant to the conversion of $2,850 of convertible debt held by Star Financial, a company owned by our CEO’s family member, a related party, which consisted of $2,850 of principal. The note was converted in accordance with the conversion terms; therefore no gain or loss has been recognized.
On April 7, 2015, the Company issued 40,000,000 shares of Class A Common Stock pursuant to the conversion of $2,000 of convertible debt held by GG Mars, a company owned by our CEO’s family member, a related party, which consisted of $2,000 of principal. The note was converted in accordance with the conversion terms; therefore no gain or loss has been recognized.
On April 14, 2015, the Company issued 100,000,000 shares of Class A Common Stock pursuant to the conversion of $5,000 of convertible debt held by GG Mars, a company owned by our CEO’s family member, a related party, which consisted of $5,000 of principal. The note was converted in accordance with the conversion terms; therefore no gain or loss has been recognized.
Debt Conversion
On April 13, 2015, the Company issued 110,500,000 shares of Class A Common Stock pursuant to the conversion of $11,050 of convertible debt held by Michael Dobbs, which consisted of $7,333.33 of principal and $3,716.67 of interest. The note was converted in accordance with the conversion terms; therefore no gain or loss has been recognized.
On April 13, 2015, the Company issued 110,500,000 shares of Class A Common Stock pursuant to the conversion of $11,050 of convertible debt held by Ronald Aarons, which consisted of $7,333.33 of principal and $3,716.67 of interest. The note was converted in accordance with the conversion terms; therefore no gain or loss has been recognized.
On April 13, 2015, the Company issued 110,500,000 shares of Class A Common Stock pursuant to the conversion of $11,050 of convertible debt held by Scott Sanchez, which consisted of $7,333.33 of principal and $3,716.67 of interest. The note was converted in accordance with the conversion terms; therefore no gain or loss has been recognized.
AI
