FutureLand Corp (FUTL)

[surfkast]

A COMPANY HEAVILY IN DEBT SIGNINGS A DEAL WITH ANOTHER COMPANY HEAVILY IN DEBT. HAS TO MAKE INVESTORS WARM AND FUZZY ALL OVER!

We already know how bad FUTL is, here are some highlights of Cannabis Leaf Incorporated.

This Agreement of Merger (the “ Agreement ”) is entered into by and between Pacificorp Holdings Ltd., a Nevada corporation (the “ Company ”) and Cannabis Leaf Incorporated, a Nevada corporation (the “ Subsidiary ”), as of June 2, 2017.

https://backend.otcmarkets.com/otcapi/company/sec-filings/12139855/content/html



As of October 31, 2017 the license agreement with Affordable Green LLC is in default. However, the Company and Affordable Green are working together to remedy the default. To date the Company has paid a total of $114,975 as a deposit on their License with Affordable Green LLC and subsequently have paid an additional $27,480 for an aggregate total of $142,455 as of January 31, 2018 all funds received were by of short term loans that bear a 5% annual interest rate.


Licensee shall pay to Licensor an aggregate total $2,200,000 USD, comprised of payments of twenty five thousand ($25,000) on or before April 30, 2017 and nine thousand eight hundred ($9,800) on or before May 16 th which the receipt is hereby acknowledged; and fifteen thousand two hundred ($15,200) on or before June 2nd, 2017 and ten thousand ($10,000) on or before June 5th, 2017; and seventy-five thousand ($75,000) on or before June 30, 2017; and one hundred fifty thousand ($150,000) on or before July 30th, 2017; and two hundred fifty thousand ($250,000) on or before August 25, 2017; and eight hundred-fifty thousand ($850,000) on or before September 25 th and the balance of eight hundred fifteen thousand ($815,000) on or before October 30, 2017.

Net loss $(149,214)


NOTE 5 – NOTE PAYABLE FROM RELATED PARTY

As of October 31, 2017 and January 31, 2017, the Company received advances totaling $47,696 and $28,534 respectively from related parties, the advances are unsecured, of which $28,534 is non-interest bearing and is due upon demand giving 30 days written notice to the borrower. A balance of $18,600 was received from a related party and bares an interest rate of 5% per annum, and is due upon demand giving 30 days written notice to the borrower. The Company has recorded imputed interest of $1,980 and accrued interest of $471 respectively for the nine month period ending October 31, 2017.


NOTE 7 – NOTE PAYABLE

As of October 31, 2017 the Company received advances totaling $129,975 from an unrelated party, the advances are unsecured and bares an interest rate of 5% per annum, and is due upon demand giving 30 days written notice to the borrower. The Company has recorded accrued interest of $2,285 for the nine month period ending October 31, 2017.


https://backend.otcmarkets.com/otcapi/company/sec-filings/12533007/content/html