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Monday, September 21, 2015 6:16:20 PM
Common Stock Issuances for Debt Conversions
On March 11, 2015, the Company issued 50,000,000 shares of common stock pursuant to the conversion of $500 of outstanding principal on the First Morrison Note. The $500 of principal on the note was sold and assigned to a third party prior to conversion. The note was converted in accordance with the conversion terms; therefore no gain or loss has been recognized.
On March 10, 2015, the Company issued 50,000,000 shares of common stock pursuant to the conversion of $500 of outstanding principal on the First Morrison Note. The $500 of principal on the note was sold and assigned to a third party prior to conversion. The note was converted in accordance with the conversion terms; therefore no gain or loss has been recognized.
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