Tuesday, February 18, 2014 3:00:18 PM
Entry into a Material Definitive Agreement, Unregistered Sale of Equity Sec
Item 1.01 Entry into Material Definitive Agreement
Effective February 14, 2014, we entered into a debt settlement and subscription agreement wherein a creditor has agreed to accept 350,000 shares of our common stock at a deemed price of $0.10 per share as settlement of debt owed in the amount of $35,000.
Item 3.02 Unregistered Sales of Equity Securities
On February 14, 2014, we issued 350,000 shares of our common stock at a deemed price of $0.10 pursuant to the debt settlement and subscription agreement referred to above.
We issued the 350,000 shares of common stock to one (1) US person, relying on Rule 506 under Regulation D and/or Section 4(2) of the Securities Act of 1933.
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