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Monday, June 10, 2019 10:36:32 PM
On May 30, 2019, the Note was amended by letter agreement (“Letter Agreement”) to provide for a fixed exercise price of $.0025 per share, and such Note was exercised in full by ARJ on such date resulting in the issuance of 512,333,333 shares of Common Stock. Also on May 30, 2019, the Warrant was amended by such Letter Agreement to provide that it is exercisable as to an aggregate of 500,000,000 shares of Issuer Common Stock, not the original amount of 925,925,925 shares. The RRA was also amended on such date to provide for, among other things, an extension of time within which the Company has to file one (1) or more registration statements. Finally, on May 30, 2019, ARJ and the Company also entered into a new Securities Purchase Agreement (“New SPA”), pursuant to which ARJ purchased an aggregate of 41,666,666 shares of Common Stock for an aggregate consideration of $500,000.00
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