DEBT, DEBT and MORE DEBT - and I'm not helping them by buying and holding any bags.
Item 2 Unregistered Sales of Equity Securities and Use of Proceeds.
On April 14, 2010 the company issued 750,000 shares of its common stock to Joe Grace as partial consideration for a loan of $50,000.
On April 14, 2010 the company issued 450,000 warrants to purchase shares of its common stock at $0.05 per share to Joe Grace as partial consideration for extending the same loan of $50,000.
On May 7, 2010 the company issued 750,000 shares of its common stock to David Wallace as partial consideration for a loan of $50,000.
On May 7, 2010 the company issued 450,000 warrants to purchase shares of its common stock at $0.05 per share to David Wallace as partial consideration for the same loan of $50,000.
On April 30, 2010 the company issued 750,000 shares of its common stock to King White as partial consideration for a loan of $50,000.
On April 30, 2010 the company issued 450,000 warrants to purchase shares of its common stock at $0.05 per share to King White as partial consideration for extending the same loan of $50,000. Subsequent to June 30, 2010 the Board of Directors authorized the issuance of additional shares of Common Stock as follows:
Board Fees: 6,150,000 shares
Forbearance on debt: 4,125,000 shares
Settlement of Debt: 3,000,000 shares
Fees for Capital Raises: 600,000 shares
Services: 3,750,000 shares
Total Shares issued: 17,625,000 shares
THIS ONE IN PARTICULAR HAS MUCH MORE THEN ANYONE WOULD LIKE!
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