Can B Corp (CANB)

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The problem is that CANB keeps selling shares to pay the bills due to no revenue.

As of June 30, 2017, the Company had cash and cash equivalents of $257 and negative working capital of $887,567.
The Company plans to improve its financial condition by raising capital through sales of shares of its common stock.  Also, the Company plans to start a health supplements business to attain profitable operations.

Having a plan to keep selling shares to finance operations and stock promotion is never good for shareholders.
CAMB payable notes have nearly tripled from 56K to 128k in the last 6 months.

On February 13, 2017, the Company issued 1,685,900 shares of WRAP common stock to the brother of the Chief Executive Officer of the Company in satisfaction of notes payable of $15,000 and accrued interest payable of $1,859.

On March 22, 2017, the Company issued 6,785,316 shares of WRAP common stock to a lender in satisfaction of notes payable of $50,000 and accrued interest payable of $5,979.

On April 17, 2017, the Company issued 5,000,000 shares of WRAP common stock to a consultant for services rendered. The $103,500 fair value of the 5,000,000 shares of WRAP common stock will be charged to consulting fees in the three months ended June 30, 2017.

On June 21, 2017, the Company issued 250,000 shares of WRAP common stock to a consultant for services rendered. The $5,975 fair value of the 250,000 shares of WRAP common stock will be charged to consulting fees in the three months ended June 30, 2017.

On June 28, 2017, the Company issued 250,000 shares of WRAP common stock to a consultant for services rendered. The $5,000 fair value of the 250,000 shares of WRAP common stock will be charged to consulting fees in the three months ended June 30, 2017.

Sales of unregistered securities during the quarterly period ended June 30, 2017 follows:

On February 2, 2017, the Company issued 200,000 shares of WRAP common stock to a financial consultant as payment in full for $11,000 of services rendered for the period January 1, 2016 through March 31, 2017.

On February 13, 2017, the Company issued 1,685,900 shares of WRAP common stock to the brother of the Chief Executive Officer of the Company in satisfaction of notes payable of $15,000 and accrued interest payable of $1,859.

On March 22, 2017, the Company issued 6,785,316 shares of WRAP common stock to a lender in satisfaction of notes payable of $50,000 and accrued interest payable of $5,979.

On April 17, 2017, the Company issued 5,000,000 shares of WRAP common stock to a consultant as payment in full for $103,500 of services rendered for the period April 1, 2016 through June 30, 2017.

On June 21, 2017, the Company issued 250,000 shares of WRAP common stock to a financial consultant as payment in full for $5,975 of services rendered for the period April 1, 2016 through June 30, 2017.

On June 28, 2017, the Company issued 250,000 shares of WRAP common stock to a financial consultant as payment in full for $5,000 of services rendered for the period April 1, 2016 through June 30, 2017.


Litigation and Difficulty Paying The Landlord

On November 25, 2016, the landlord under the lease agreement dated September 11, 2015 (“QPR”) served us a Notice of Default. On December 5, 2016, QPR filed a Petition to Recover Possession of Real Property seeking unpaid rent of $12,540 (as of November 21, 2016) and possession of the premises. The Company subsequently paid QPR and QPR dismissed the action.
This is all from the last 10Q filed a few days ago.