Effective June 1, 2013, the Company renewed the employment agreement with our chief financial officer for an additional two year period. The agreement calls for a minimum salary of $14,583 per month plus additional cash and stock compensation. All other terms of the renewal agreement remain the same as the original agreement. The Company has not made certain cash payments due under these agreements. As of March 31, 2015, $280,377, has been accrued as compensation payable and deferred salary
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NOTE 12 – SUBSEQUENT EVENTS On May 11, 2015 the Nevada Secretary of State accepted for filing a Certificate of Amendment decreasing the Company’s authorized common stock from 8,964,324,990 with a par value of $0.00001 to 946,821,999 with a par value of $0.001, to increase the Company’s authorized preferred stock from 35,675,010 to 53,178,001 with a par value of $0.001, and to cancel and retire the Company’s Series F and Series G Preferred Stock. The amendment was approved by the shareholders and directors on March 23, 2015