Major League Football Inc (MLFB)

[Werbe]

MikeyInTheD, it strictly came from lack of funds.. These lawsuits are hanging over their heads and they need funds to file to become current.. Per 8k released today, they are actually able to file and become current again, which is nice.

Also, the dude had all of their equipment locked up... You think people would be more open to make deals then sue sue sue.

Pursuant to a private placement of the Registrants common stock on June 8, 2018, October 5, 2018 and December 7, 2018, the Registrant raised $110,000 to be used, in part, to finalize its required SEC filings including its Form 10-K for the year ended April 30, 2018 and Form 10-Q filings for July 31, 2018 and October 31, 2018.

The Registrant filed its Form 10-K on November 19, 2018 and contemplates that both Form 10-Q reports will be filed on or about January 15, 2019. In regaining full SEC compliance with the Form 10-Q filings, the Registrant’s plan is to obtain additional capital to proceed with its previously announced business plan to commence football play in late Spring and early Summer 2019.

On August 4, 2017, Interactive Liquid LLC (Interactive”), a vendor of the Company, filed a lawsuit in the amount of $153,016 related to unpaid invoices for logo design and website development services provided. On December 18, 2017, MLFB received a settlement demand for payment of consideration with a total value of $153,016, consisting of stock valued at $26,016 and periodic cash payments to be completed on or before June 1, 2018 totaling $127,000. Further negotiations ensued and ultimately the case was settled on or about March 5, 2018. The settlement called for MLFB to make payment to Interactive in the sum of $10,000 immediately upon receipt of an initial tranche of funding. MLFB was then required to make an additional payment of $30,000 on or before June 1, 2018. MLFB’s failure to make the payments as outlined would result in the entry of a judgment in favor of Interactive against MLFB in the sum of $153,016, said sum representing the full amount of Interactive’s claimed damages. The Company has recorded accounts payable to Interactive of $153,016 in the accompanying unaudited Balance Sheet at January 31, 2018. The Company failed to make the required payment due to lack of funding and as such, on June 4, 2018, Interactive filed the stipulated judgment.

On August 4, 2017, Interactive Liquid LLC (Interactive”), a vendor of the Company, filed a lawsuit in the amount of $153,016 related to unpaid invoices for logo design and website development services provided. On December 18, 2017, MLFB received a settlement demand for payment of consideration with a total value of $153,016, consisting of stock valued at $26,016 and periodic cash payments to be completed on or before June 1, 2018 totaling $127,000. Further negotiations ensued and ultimately the case was settled on or about March 5, 2018. The settlement called for MLFB to make payment to Interactive in the sum of $10,000 immediately upon receipt of an initial tranche of funding. MLFB was then required to make an additional payment of $30,000 on or before June 1, 2018. MLFB’s failure to make the payments as outlined would result in the entry of a judgment in favor of Interactive against MLFB in the sum of $153,016, said sum representing the full amount of Interactive’s claimed damages. The Company has recorded accounts payable to Interactive of $153,016 in the accompanying unaudited Balance Sheet at January 31, 2018. The Company failed to make the required payment due to lack of funding and as such, on June 4, 2018, Interactive filed the stipulated judgment.