Wednesday, July 05, 2023 4:20:16 PM
During the nine months ended February 28, 2023, the Company entered into promissory notes agreement with lenders for $20,500 cash received and settlement of $125,000 due related to purchase of digital equipment. According to terms and condition of agreements, on event of default the interest rate shall increase to 5% and lenders have the right a to convert the unpaid principal and interest into common stock at conversion rate of $0.000025 per share.
During the nine months ended February 28, 2023, the Company recognized interest expense of $278. As of February 28, 2023, the outstanding balances of promissory notes and accrued interest was $145,500 and $278, respectively.
Reporting Person AW Finance Group, Inc. (“AW Finance Group”) has rights to convert a Promissory Note into shares of the Issuer’s common stock which, except for a contractual 9.99% cap on the amount of outstanding shares that AW Finance Group may own, would exceed the cap. Thus, the number of shares of the Issuer’s common stock beneficially owned by AW Finance Group as of the date of this filing was 225,302,464 shares, which is 9.99% of the Issuer’s 2,253,024,646 shares that were outstanding as April 17, 2023 (as reported in the Issuer’s Form 10-Q,filed April 20, 2023).
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
AW Finance Group, Inc
Date: June 20, 2023 By: /s/ Anastasia Shishova
Name:
Anastasia Shishova
Title: President
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