MAJOR DILUTION STILL AHEAD;
FROM TODAYS "Q"
Convertible debt principal payments of $12,500 were in default on maturity date as of March 31, 2017 as of the issuance date of these consolidated financial statements.
FUTURELAND, CORP. AND SUBSIDIARIES
(FORMERLY AEGEA, INC.)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
March 31, 2017
NOTE 6: CONVERTIBLE DEBENTURES AND NOTES (continued)
On January 07, 2016, the Company registered 6,000,000 shares of common stock under form S8 with SEC for employee and consultant compensation.
On April 15, 2016 the Company issued a debenture for $80,750 to Auctus for cash advances during April 2016. The debenture accrues interest at 10% per annum and will convert into the company's common stock at 45% of the lowest closing bid price 20 days before the conversion date. The Holder is restricted from any conversions that would result in the Holder owning over 9.9% of the outstanding common shares of the Company after the conversion.
On June 17, 2016, the Company issued a debenture for $92,000 to EMA for cash advances during June 2016. The debenture accrues interest at 10% per annum and will convert into the company's common stock at 50% of the lowest closing bid price 20 days before the conversion date. The Holder is restricted from any conversions that would result in the Holder owning over 9.9% of the outstanding common shares of the Company after the conversion.
On July 8, 2016, the Company issued a debenture for $120,000 EMA for a cash advance during July 2016. The debenture accrues interest at 10% per annum and will convert into the company's common stock at 50% of the lowest closing bid price 20 days before the conversion date. The Holder is restricted from any conversions that would result in the Holder owning over 9.9% of the outstanding common shares of the Company after the conversion.
On December 14, 2016, the Company issued a debenture for $87,500 to EMA. The debenture accrues interest at 8% per annum and will convert into the company's common stock at 50% of the lowest closing bid price 20 days before the conversion date. The Holder is restricted from any conversions that would result in the Holder owning over 9.9% of the outstanding common shares of the Company after the conversion.
On December 30, 2016, the Company issued a debenture for $85,000 to Auctus for a cash advances during December 2016. The debenture accrues interest at 10% per annum and will convert into the company's common stock at 50% of the lowest closing bid price 20 days before the conversion date. The Holder is restricted from any conversions that would result in the Holder owning over 9.9% of the outstanding common shares of the Company after the conversion.
On February 16, 2017, the Company issued stock to the principals and affiliated parties of GreenLeaf Holding, LLC to bring in capital to fund various ventures within the company.
On March 20, 2017, the Company issued a debenture for $180,000 to EMA. The debenture accrues interest at 8% per annum and will convert into the company's common stock at 50% of the lowest closing bid price 18 days before the conversion date. The Holder is restricted from any conversions that would result in the Holder owning over 9.9% of the outstanding common shares of the Company after the conversion.
On March 22, 2017, the Company issued a debenture for $180,000 to Auctus Fund. The debenture accrues interest at 8% per annum and will convert into the company's common stock at 50% of the lowest closing bid price 18 days before the conversion date. The Holder is restricted from any conversions that would result in the Holder owning over 9.9% of the outstanding common shares of the Company after the conversion.
A HUNDRED YEARS FROM NOW IT WILL NOT MATTER WHAT MY BANK ACCOUNT WAS, THE SORT OF HOUSE I LIVED IN, OR THE KIND OF CAR I DROVE...BUT THE WORLD MAY BE DIFFERENT BECAUSE I WAS IMPORTANT IN THE LIFE OF A CHILD.
