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Monday, August 21, 2017 6:19:39 PM
"On August 26, 2016, the Company sold and issued a Convertible Promissory Note to an unrelated party, for the principal amount of $76,650 of which $6,650 was an original issue discount resulting in cash proceeds to the Company of $70,000 pursuant to the terms of a Securities Purchase Agreement of even date therewith. The Note, together with accrued interest at the annual rate of 8%, is due on August 26, 2017. The Note is convertible into the Company's common stock commencing 180 days from the date of issuance at a conversion price equal to 55% of the lowest trade price of the Company's common stock for the twenty prior trading days including the date of conversion. During the nine months ended June 30, 2017, the noteholder converted all outstanding principal and interest in exchange for a total of 10,087,373 common shares. There was $0 and $76,650 of principal and $0 and $588 of accrued interest due at June 30, 2017 September 30, 2016, respectively.
On August 26, 2016, the Company sold and issued a Convertible Promissory Note to an unrelated party, for the principal amount of $76,650 of which $6,650 was an original issue discount resulting in cash proceeds to the Company of $70,000 which was funded on January 3, 2017 pursuant to the terms of a Securities Purchase Agreement of even date therewith. The Note, together with accrued interest at the annual rate of 8%, is due on August 26, 2017. The Note is convertible into the Company's common stock commencing 180 days from the date of issuance at a conversion price equal to 55% of the lowest trade price of the Company's common stock for the twenty prior trading days including the date of conversion. During the nine months ended June 30, 2017, the noteholder converted all outstanding principal and interest in exchange for a total of 11,103,272 common shares. There was $0 and $0 of principal and $0 and $0 of accrued interest due at June 30, 2017 September 30, 2016, respectively."
Next notes are due March 2018...
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