Cash flows provided by financing activities: Proceeds from convertible debt: $514,500 Proceeds from issuances of common stock: $91,000
During the nine months ended December 31, 2018 interest expense was $981,383 vs. $2,648 in 2017
As of December 31, 2018, the Company had an accumulated deficit of approximately $6,907,339, had net losses of approximately $2,806,395 for the nine months ended December 31, 2018, with net cash used in operating activities of $447,395, with little revenue earned since inception and a lack of operational history.
Management intends to raise additional funds by way of additional public and/or private offerings of its stock.
During the nine months ended December 31, 2018, the Company issued a total of 3,040,000 shares of common stock to two investors for cash of $60,000 (less than 2 cents a share.)
As of December 31, 2018, the Company had an obligation to issue four investors a total of 2,950,000 shares
we received $125,000 in financing from investor Alain Salem under a Convertible Promissory Note. The Note bears interest at a rate of twelve percent (12%) per year, and is due in six months. The Note is convertible to shares of our common stock at a price equal to 50% of the market price
we issued a issued a convertible note in the amount of $165,000 in exchange for cash proceeds of $150,000, with an original issuance discount of $15,000. The note bears interest at 12% per annum, is due 9 months from the date of issuance, and converts into common stock at the rate of 65% of the average two lowest trading prices over the 20 day period prior to conversion.
we issued convertible notes to several third partiestotaling $514,500 in exchange for cash proceeds of $476,200, with an original issuance discount of $38,300. The notes bear interest at 12% per annum, are due between 6-12 months from the date of issuance, and convert into common stock at the rate of 65% of the average two lowest trading prices over the 20-day period prior to conversion.
as of December 31, 2018, our disclosure controls and procedures are not effective.
