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Tuesday, February 02, 2016 3:14:00 PM
On December 5, 2014, December 13, 2014, and January 7, 2015, the Company issued 44,000,000, 40,000,000, and 26,000,000 shares of
common stock, respectively, upon the conversion of the principal amount of $11,000 at a conversion price of $0.0001 per share and, $11,000
was released from escrow to the original noteholder.
On February 13, 2015, the Company issued 65,000,000 shares of common stock upon the conversion of the principal amount of $6,500 at a
conversion price of $0.0001 per share and, $6,500 was released from escrow to the original noteholder.
On March 26, 2015, the Company issued 212,000,000 shares of common stock upon the conversion of the principal amount of $10,600 at a
conversion price of $0.00005 per share and, $10,600 was released from escrow to the original noteholder.
As of May 31, 2015, a principal balance of $36,900 and accrued interest of $105,933 remain outstanding and is included in accrued liabilities.
As of August 31, 2015, the Company is in default of loans amounting to an aggregate principal of $208,000.
“No one in this world, so far as I know — and I have searched the records for years, and employed agents to help me — has ever lost money by underestimating the intelligence of the great masses of the plain people"
H.L. Mencken
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