Friday, November 23, 2018 4:05:58 PM
These are the subsequent events not included on the balance sheet or income statement as of 9/30/18.
On October 2, 2018, the Company entered into a Promissory Note Agreement with an accredited investor. We received $250,000 in financing and promised to pay the principal amount together with simple interest of 15% per annum on or before the one year anniversary. Furthermore, the Company committed to pay the principal amount and accrued interest within 30 days of the receipt of funds from debt or surety bond financing, In exchange, we issued cashless warrants to purchase 2,000,000 shares of common stock at an exercise price of $0.05. The warrants expire after five years.
On October 4, 2018, the company purchased parts and components for completion of 5 vehicles.
On October 18, 2018, the company retired a convertible note with a pre-payment of $189,940 to the holder six months before the maturity date. The note agreement was entered into on April 26, 2018.
On October 25, 2018, we issued 2,000,000 shares of our common stock upon partial conversion of $50,000 on convertible debt of $220,000 to Lucas Hoppel.
On October 26, 2018, the Company entered into a Promissory Note Agreement with an accredited investor. We received $250,000 in financing and promised to pay the principal amount together with simple interest of 15% per annum on or before the one year anniversary. Furthermore, the Company committed to pay the principal amount and accrued interest within 30 days of the receipt of funds from debt or surety bond financing, In exchange, we issued cashless warrants to purchase 2,000,000 shares of common stock at an exercise price of $0.05. The warrants expire after five years.
On October 31, 2018, we issued 2,000,000 shares of our common stock upon partial conversion of $50,000 on convertible debt of $385,000 to Lucas Hoppel.
On November 13, 2018, we issued 2,500,000 shares of our common stock upon partial conversion of $62,500 on convertible debt of $220,000 to Lucas Hoppel.
On September 6, 2018, the board of directors authorized the raising of up to $3 million to buy components, build product, and fulfill orders through the issuance of bridge notes. A board member led the investment of $125,000 and $250,000 notes that offer simple interest of 15% per annum on or before the one year anniversary. Furthermore, the Company committed to pay the principal amount and accrued interest within 30 days of the receipt of funds from debt or surety bond financing, In exchange, we issued cashless warrants to purchase 1,000,000 ($125,000) or 2,000,000 ($250,000) shares of common stock at an exercise price of $0.05. The warrants expire after five years. As of November 16, 2018, the company has raised $2 million.
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