Eco Innovation Group Inc (ECOX)

[WiseTrader]

great move! so many convertible notes issued! just saying!
On May 18, 2020, the company issued 8,000,000 shares of common stock to a consultant for $0.098 per share valued at $784,000 for services.
On May 26, 2020, the company issued 25,000,000 shares of common stock to its former Chief Executive Officer John English for the
conversion of a $2,451 convertible note.
On June 26, 2020, the company issued 12,500,000 shares of common stock to Pinnacle Consulting Services for $0.099 per share valued at
$1,248,750 as compensation for consulting services.
On June 26, 2020, the company issued 10,000,000 shares of common stock to its Chief Executive Officer Julia Otey-Raudes for $0.026 per
share valued at $260,000 as compensation for services.
On June 26, 2020, the company issued 25,000,000 shares of common stock to Bellagio IP Trust for $0.026 per share valued at $650,000 in
connection with the Master Exclusive Licensing, Marketing, Distribution and Sales Agreement, dated June 16, 2020 between Bellagio IP
Trust and Eco Innovation Group, Inc.
On June 26, 2020, the company issued 600,000 shares of common stock to Tabular Investments, LLC for $0.125 per share valued at $75,000
in compensation for services.
On August 14, 2020, the Company issued 4,000,000 shares of common stock to Pinnacle Consulting Services, Inc., for $0.005 per share, in
exchange for a cash payment of $20,000.
On November 15, 2020, the Company agreed to issue 2,500,000 shares of common stock to Patrick Laurie for $0.066 per share as
compensation for services on the Company’s Advisory Board. The Company recognized expense of $165,000 related to the shares, which
were issued in January 2021.
On December 17, 2020, the Company agreed to issue 2,500,000 shares of common stock to Demitri Hopkins for $0.008 per share as
compensation for services on the Company’s Advisory Board. The Company recognized expense of $200,000 related to the shares, which
were issued in January 2021. The Company also agreed to compensate the Advisory board member with cash payments of $60,000 per year.
On December 16, 2020, the Company entered into a technology license agreement with Glytech LLC, a company of which Demitri Hopkins
is an equity interest holder. The agreement awarded Glytech LLC 15,000,000 shares of common stock upon execution, and an additional
15,000,000 shares upon completion of a working prototype of a new technology product based on the licensed technology by March 31, 2021.
Additionally, upon completion of the working prototype, the Company will pay $150,000 of cash, due within six months of the milestone
completion. The Company will be a royalty of 10% to Glytech on all net sales of any device incorporating the licensed technology. The initial
shares to be awarded were valued at $1,050,000 based on the fair value of the common stock at the agreement date, and were recorded as an
indefinite-lived intangible asset. The shares were issued in January 2021.

On January 6, 2021 the Company agreed to issue 5,000,000 shares of common stock to SaraLynn Mandell for $0.067 per share as
compensation for services on the Company’s Advisory Board. The Company recognized expense of $335,000 related to the shares, which
were issued in February 2021. The Company also agreed to compensate the Advisory board member with cash payments of $60,000 per year.
On February 3, 2021, the Company agreed to issue 1,176,471 shares of common stock to SRAX Investor Relations, LLC for $0.08 per share
as compensation for services. The Company recognized expense of $100,000 related to the shares, which is the stated value of services to be
rendered in compensation under the relevant agreement with SRAX.
On March 1, 2021, the Company entered into a Share Exchange Agreement with Marijuana Company of America, Inc., a Utah corporation
quoted on OTC Markets Pink (“MCOA”) dated February 26, 2021, to acquire the number of shares of MCOA’s common stock, par value
$0.001, equal in value to $650,000 based on the closing price for the trading day immediately preceding the effective date, in exchange for
the number of shares of Company common stock, par value $0.001, equal in value to $650,000 based on the per-share price of $0.06 (the
“Share Exchange Agreement”). For both parties, the Share Exchange Agreement contains a “true-up” provision requiring the issuance of
additional common stock in the event that a decline in the market value of either parties’ common stock should cause the aggregate value of
the stock acquired pursuant to the Share Exchange Agreement to fall below $650,000. The Company issued 10,833,333 shares of its Company
stock pursuant to this agreement and holds 41,935,484 shares of MCOA stock. As of December 31, 2021, the Company owed an additional
82,023,810 shares to be issued to MCOA under the terms of the agreement, with the Company recognizing a $866,885 other loss during the
year ended December 31, 2021. The additional 82,023,810 shares to be issued are recorded as a share liability on the Company’s balance
sheet.
OTC Markets Group Inc.
OTC Pink Basic Disclosure Guidelines (v2.0 February 2019) Page 10 of 25
On July 19, 2021, the Company issued 850,000 shares of common stock for $0.039 to settled outstanding accounts payable in the amount of
$34,000.
On August 26, 2021, the Company agreed to issue 1,500,000 shares of common stock to Iconic Investor Relations, LLC for $0.039 per share
as compensation for services. The Company recognized expense of $174,600 related to the shares.
On October 4, 2021, the Company agreed to issue 4,000,000 shares of common stock to StockVest for $0.023 per share as compensation for
services. The Company recognized expense of $92,000 related to the shares.
During the year ended December 31, 2021, the Company issued 4,749,999 shares of common stock in exchange for cash proceeds of $50,900.
During the year ended December 31, 2021, 2,675,000 shares of common stock were cancelled by the Company and returned to treasury.
During the year ended December 31, 2021, 5,675,342 shares of common stock were issued by the Company for the conversion of $14,188 in
principal and interest of a convertible note.
During the year ended December 31, 2021, the Company issued 5,871,211 shares of common stock for the cashless exercise of the Labry’s
warrant.
Subsequent to December 31, 2021, the Company has issued a total of 54,369,190 shares of common stock for the conversion of $166,500 of
principal and interest on a promissory note made to an accredited investor for full settlement of the loan.
Subsequent to December 31, 2021, the Company issued 18,500,000 shares of common stock for the conversion of $1,722 of principal on the
promissory note held by a related party.
Subsequent to December 31, 2021, the Company issued 36,116,379 shares of common stock to an accredited investor in conversion of $83,750
shares of Series C Preferred Stock, including a total of 4,188 in accrued dividends.
Subsequent to December 31, 2021, the Company has sold a total of 34,000,000 issued 68,750 shares of common stock at a fixed price of
Subsequent to December 31, 2021, the Company has sold a total of 34,000,000 shares of common stock at a fixed price of $0.005 per share
for a total of $170,000 in cash under the Company’s active Regulation A offering, qualified by the SEC on December 16, 2021. There is no
assurance that the Company will raise any further funds under the Regulation A offering.

On January 10, 2022, the Company issued 18,500,000 shares of common stock to an accredited investor upon partial conversion of a
promissory note wholly convertible into 25,000,000 shares of the Company’s common stock.
On January 19, 2022, the Company issued 8,487,000 shares of common stock to an accredited investor in partial conversion of a promissory
note issued on June 4, 2021, at an applicable conversion price of $0.005 per share of common stock.
On January 26, 2022, the Company issued 7,000,000 shares of common stock to an accredited investor upon conversion of 20,000 shares of
the Company’s Series C Preferred Stock, at a conversion price of $0.003 per share of common stock.
On January 27, 2022, the Company issued 9,556,000 shares of common stock to an accredited investor in partial conversion of a promissory
note issued on June 4, 2021, at an applicable conversion price of $0.005 per share of common stock.
On February 2, 2022, the Company issued 7,241,379 shares of common stock to an accredited investor upon conversion of 20,000 shares of
the Company’s Series C Preferred Stock, at a conversion price of $0.0029 per share of common stock.
On February 8, 2022, the Company issued 12,500,000 shares of common stock to an accredited investor upon conversion of 25,000 shares of
the Company’s Series C Preferred Stock, at a conversion price of $0.0021 per share of common stock.
On February 9, 2022, the Company issued 9,825,000 shares of common stock to an accredited investor in partial conversion of a promissory
note issued on June 4, 2021, at an applicable conversion price of $0.0021 per share of common stock.
On February 14, 2022, the Company issued 14,000,000 shares of common stock to an accredited investor in partial conversion of a promissory
note issued on June 4, 2021, at an applicable conversion price of $0.0021 per share of common stock.
OTC Markets Group Inc.
OTC Pink Basic Disclosure Guidelines (v2.0 February 2019) Page 10 of 25
(1) On October 10, 2019, Heritage Funding, Inc. sold its right to receive forty five million (45,000,000) of its fifty million
(50,000,000) share right to Blue Ridge Enterprises, LLC, in exchange for $4,901.96, leaving Heritage Funding, Inc. with the
right to receive five million (5,000,000) shares pursuant to the assignment agreement. On October 14, 2019, the conversion
requests were made to issue these shares to each respective party.
B. Debt Securities, Including Promissory and Convertible Notes
Use the chart and additional space below to list and describe all outstanding promissory notes, convertible notes, convertible
debentures, or any other debt instruments that may be converted into a class of the issuer’s equity securities..
Check this box if there are no outstanding promissory, convertible notes or debt arrangements: ?
Date of
Note
Issuance
Outstanding
Balance ($)
Principal
Amount at
Issuance ($)
Interest
Accrue
d ($)
Maturity
Date
Conversion Terms (e.g.
pricing mechanism for
determining conversion of
instrument to shares)
Name of Noteholder
(entities must have
individual with voting /
investment control
disclosed).
Reason for
Issuance (e.g.
Loan,
Services, etc.)
On February 14, 2022, the Company issued 93,375,000 shares of common stock to an accredited investor upon conversion of 18,750 shares
of the Company’s Series C Preferred Stock, at a conversion price of $0.0021 per share of common stock.

On February 25, 2022, the Company issued 12,501,190 shares of common stock to an accredited investor in final conversion of a promissory
note issued on June 4, 2021, at an applicable conversion price of $0.0021.

On March 14, 2022, the Company issued 12,115,385 shares of common stock to an accredited investor upon conversion of 15,000 shares of
the Company’s Series C Preferred Stock, at a conversion price of $0.0013 per share of common stock.

On March 16, 2022, the Company issued 12,115,385 shares of common stock to an accredited investor upon conversion of 15,000 shares of
the Company’s Series C Preferred Stock, at a conversion price of $0.0013 per share of common stock.

On March 18, 2022, the Company issued 7,067,308 shares of common stock to an accredited investor upon conversion of 8,750 shares of the
Company’s Series C Preferred Stock, at a conversion price of $0.0013 per share of common stock.

On March 30, 2022, the Company issued 16,900,000 shares of common stock to an accredited investor in partial conversion of a promissory
note issued on August 23, 2021, at an applicable conversion price of $0.0025.
On April 1, 2022, the Company issued 68,750 shares of Series C Preferred Stock to an accredited investor pursuant to a stock purchase
agreement for consideration of $65,000. The 68,750 shares of Series C Preferred Stock are convertible to shares of common stock at a discount
rate of 37% from the average of the two lowest closing bid prices for the Company’s common stock during the 15 trading days prior to the
conversion. The Company’s shares of Series C Preferred Stock rank senior with respect to dividends and right of liquidation to the Company’s
common stock and junior with respect to dividends and right of liquidation to all existing and future indebtedness of the Company and existing
and outstanding preferred stock of the Company. The Company’s shares of Series C Preferred Stock have no right to vote and carry an annual
dividend of 10% which is cumulative and payable solely upon redemption, liquidation or conversion. The Company has the right to redeem
the 68,750 shares of Series C Preferred Stock up to 180 days following the issuance date. As of the date of this annual report, the Company
has 167,500 shares of Series C Preferred Stock outstanding.
https://www.otcmarkets.com/otcapi/company/financial-report/327930/content