I see there is still no annual report on the paid for write what you want site. Since this was known as the National Quotation Bureau, nothing much has changed.
Interesting note: They filed NINE amended reports.
After reading the filings again, I must reiterate the holdings of the insiders showing their discounts. The self enrichment is very obvious.
(1) Concurrent with the acquisition of Choice Wellness on May 7, 2020, David Green Exchanged his Series B Preferred shares for 2,348,103 shares of Company common stock and resigned as CEO. He remains a director of the Company.
(2) Each share of Series C Preferred Stock shall be convertible, at the option of the holder thereof, at any time and from time to time, and without the payment of additional consideration by the holder thereof, into that number of fully paid and nonassessable shares of Common Stock (whether whole or fractional) equal to 0.001% of the total number of shares of Common Stock outstanding at the Conversion Time
(3) Each share of Series D Preferred Stock shall be convertible, at the option of the holder thereof, at any time and from time to time, and without the payment of additional consideration by the holder thereof, into that number of fully paid and nonassessable shares of Common Stock (whether whole or fractional) equal to 0.001% of the total number of shares of Common Stock outstanding at the Conversion Time
NOTE 1 - SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) Management Review Date In preparing these revised financial statements, the Company has evaluated events and transactions for potential recognition or disclosure through November 15, 2020 the date the revised financial statements were issued. NOTE 2 - SHORT-TERM PAYABLE During the 3 months ended September 30, 2020, the Company received $2,700 from a short-term 90-day loan. The Company expects to have it repaid in during the 4th Quarter. NOTE 3 - STOCKHOLDER PAYABLE On May 7, 2020, the Board of Directors approved professional fees of $6,500 per month to two related entities individually controlled by Board members for services beginning February 1, 2020 and ending May 7, 2020. Effective May 8, 2020, the Board approved an increase to $8,500 per month. As of September 30, 2020, those fees totaled $112,091. Additionally, the Company’s subsidiary owes an additional $1,000 to a board member. NOTE 4 - CONVERTIBLE LOAN During January of 2016, the Company entered into a $225,000 Convertible Loan Agreement with Azure Associates in exchange for non-assessable shares of the Company’s Common Stock based upon a conversion price of $.0003 per share with interest accruing at 0%. To comply with U.S. Generally Accepted Accounting Principles, (US GAAP), Company has applied an interest rate of 2.65% based upon the long-term federal funds rate when the convertible bond was issued. As of August 31, 2019, the Company agreed to restructure the convertible debt from a conversion price of $.0003 per share to $.001 per share. During the quarter ended September 30, 2020, the Company converted $16,137, including interest, of this debt leaving a balance due of $204,077. NOTE 5 - CONVERTIBLE BONDS During the three months ended June 30, 2020, the Company issued 2 convertible bonds for $20,000 each that are due in June 2021 with a stated interest rate of 10%. As of September 30, 2020, the balance on those bonds were $40,000. NOTE 6 - RELATED ENTITY NOTE PAYABLE AND CONVERATBLE NOTE PAYABLE The Company entered into a loan agreement with OFBP Proprietary Limited (OFBP Pty Ltd) in the fourth quarter of 2018, for up to $250,000 to pay for operational expenses. As of December 31, 2019, the balance under this loan was $71,839. Interest accrued at 15% per annum on the outstanding balance On January 2nd 2020, in exchange of this loan, the Company issued a one-year Convertible Promissory Note to OFBP Pty, Ltd in the amount of $71,839 for payments made by the investor on behalf of the Company to various third-party vendors, at the direction of the Company, during 2019. General terms of the Note are 6% annual interest and conversion terms of 25% CYIOS CORPORATION CONSOLIDATED NOTES TO FINANCIAL STATEMENTS September 30, 2020 Unaudited 11 NOTE 6 - RELATED ENTITY NOTE PAYABLE AND CONVERATBLE NOTE PAYABLE (CONTINUED) discount into common shares. As of September 30, 2020, the balance of the Convertible Note Payable was $75,137, including interest. Beginning January 2, 2020, any new funds provided by OFBP will be a loan payable at 8% annual interest. During the period ending September 30, 2020, $7,048 in payments made by the investor on behalf of the Company to various third-party vendors, at the direction of the Company. The Company closed out the agreement with OFBP during the 2nd quarter of 2020. As of September 30, 2020, the balance of the note payable was $7,407, including interest. NOTE 7 - COMMON STOCK ACTIVITY The Company is authorized to issue 100,000,000 shares of common stock at $.001 per share. The number of issued and outstanding shares were 85,705,193 as of September 30, 2020. On January 10, 2020 the Company signed an agreement with Cicero Transact, an exclusive online network of members from around the world who are dedicated to forging strategic business alliances. The material terms of the agreement are that the Company will receive 2,500,000 records for 6 months in exchange for 3,571,428 shares of common stock at $0.07 per share. During the quarter ended September 30, 2020, the company has issued 14,700,000 shares in connection with the Convertible Loan Agreement originally with Azure Associates, currently assigned to JRICKS LLC, for the conversion of $16,737 on the note payable and accrued interest. NOTE 8 - PREFERRED STOCK As of September 30, 2020, the company is authorized to issue 4 series of preferred stock as follows: Additional Par Shares Issued & Preferred Paid-in Total by Preferred Stock Value Authorized Outstanding Stock Capital Series Series A $0.001 10,000,000 - 10,000 $ - $ 10,000 $ Series B $0.001 10,000 10,000 10 - 10 Series C $0.001 15,000 15,000 15 - 15 Series D $0.001 32,000 32,500 33 11,320 11,353 Preferred Stock Totals 10,057,000 57,500 $ 10,058 $ 11,320 $ 21,378 $ CYIOS CORPORATION CONSOLIDATED NOTES TO FINANCIAL STATEMENTS September 30, 2020 Unaudited 12 NOTE 8 - PREFERRED STOCK - CONTINUED Series A As of September 30 2020, the Company is authorized the issue of up to 10,000,000 shares of $.001 par value Series A preferred stock. The preferred stock carries a voting right of 20 votes per share and each share is convertible to 20 shares of common stock. As of September 30, 2020, the Company had previously issued 10,000,000 shares of preferred stock which were returned as part of the settlement with a former CEO. Series B As of September 30, 2020, the Company is authorized the issue of up to 10,000 shares of $.001 par value Series B preferred stock. As of September 30, 2020, the Company had previously issued 10,000 shares of preferred stock to David Green for his service as CEO. Those shares were later converted to 2,348,103 common shares at $.015 per share. Subsequently, the 10,000 shares of Series B we issued to Mr. John O’Shea at par value for services to the Company. Series C As of September 30, 2020, the Company is authorized the issue of up to 15,000 shares of $.001 par value Series C preferred stock. During the nine months ended September 30, 2020, the Company issued 15,000 shares of Series C to Mr. John O’Shea at par value for services to the Company. Each share of Series C Preferred Stock is convertible into a number of common shares equal to .001% of the number of common shares issued and outstanding on the date of conversion. Series D As of September 30, 2020, the Company is authorized the issue of up to 32,500 shares of $.001 par value Series D preferred stock. . As of September 30, 2020, the Company had issued 20,000 shares of preferred stock to acquire Choice Wellness, Inc. Additionally, 2,500 and 10,000 shares of Series D were issued at par value to Mr. John O’Shea and Mr. David Lewis, respectively, for services provided (2,500 to each for services provided to the Board of Directors and the other 7,500 to Mr. Lewis for service as the Chief Executive Officer (CEO). Each share of Series D Preferred Stock is convertible into a number of common shares equal to .001% of the number of common shares issued and outstanding on the date of conversion. NOTE 9 - STOCK-BASED NONEMPLOYEE COMPENSATION On October 14, 2019, the Company entered into an agreement with a consultant to ensure compliance with legal obligations concerning OTC markets and related filings. The yearlong $30,000 agreement, after an initial $2,500 cash payment, will pay the $27,500 balance in the Company’s common shares calculated at $0.05 per share. In the event the Company’s shares is less than 5 cents per share, the price will be adjusted to a price per share equity to a 25% discount to the lowest closing price for the stock during the preceding 30 days
News 
Market Data 
Discover 
AI
