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Thursday, November 16, 2023 8:08:34 AM
15. COMMON STOCK
On February 1, 2023, the Company filed a Certificate of Amendment with the Florida Secretary of State to increase the number of authorized common shares from 20,000,000,000 to 30,000,000,000 with a par value of $0.0001.
On February 27, 2023, the Company filed a Certificate of Amendment with the Florida Secretary of State to increase the number of authorized common shares from 30,000,000,000 to 100,000,000,000 with a par value of $0.0001.
During the nine months ended September 30, 2023, 68,296,141 shares of common stock were purchased for $24,203 pursuant to an Equity Purchase Agreement.
During the nine months ended September 30, 2023, 1,976 shares of Convertible Series A Preferred stock, valued at $530,556, were converted into 2,010,402,290 common shares in accordance with the conversion terms. The issuances resulted in a loss on conversion of $30,530, which was recorded to the statement of operations.
During the nine months ended September 30, 2023, Jef Lewis converted 1,211 Series A Convertible Preferred shares, valued at $325,153 in to 1,260,160,000 shares of common stock. The common stock was valued at $1,456,522 based on the market price on the date of the conversions, and the company recorded a loss on conversion of $1,131,369 to the statement of operations.
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During the nine months ended September 30, 2023, Bennett Buchanan converted 689 Series A Convertible Preferred shares, valued at $184,997 into 1,849,965,000 shares of common stock. The common stock was valued at $554,990 based on the market price on the date of the conversion, and the company recorded a loss on conversion of $369,993 to the statement of operations.
During the nine months ended September 30, 2023, warrant holders exercised the warrants and the Company issued 73,800,000 shares of common stock through a cashless exercise of the warrants in accordance with the conversion terms. The issuance resulted in a loss on conversion of $22,066 and settled $117 worth of derivative liabilities which was recorded to additional paid-in capital.
During the nine months ended September 30, 2023, the holders of convertible notes converted a total of $570,079 of principal, interest, and fees into 3,368,396,834 shares of common stock in accordance with the conversion terms. The issuances resulted in a loss on conversion of $27,123 and settled $1,891,895 worth of derivative liabilities which was recorded to additional paid in capital.
As of September 30, 2023, 100,000,000,000 common shares, par value $0.0001, were authorized, of which 8,838,743,427 shares were issued and outstanding.
https://www.otcmarkets.com/filing/html?id=17050402&guid=p1J-kHOfTriG5Vh#BRBL-10Q_HTM_a003_v1
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