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Axel

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Axel

Re: otcbargains post# 5940

Thursday, 08/13/2015 2:33:52 PM

Thursday, August 13, 2015 2:33:52 PM

Post# of 6062
I think it was .0090?

On May 27, 2015, the Company issued 34,041,059 shares of common stock to two related parties in satisfaction of $47,060 of related party advances and $333,315 of accrued salaries. The shares were determined to have a fair value of $309,774 based on the stock price on issuance date. The $70,601 excess of debt amount satisfied over the fair value of the stock issued is recorded as additional paid in capital.
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