Note 10 - Subsequent Events |
6 Months Ended |
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Jun. 30, 2019 | |
Notes | |
Note 10 - Subsequent Events |
NOTE 10 SUBSEQUENT EVENTS
Stock Issuances
During the period July 1, 2019 to August 6, 2019, the Company issued 750,000 shares of common stock at $.10 per share for proceeds of $75,000.
Option Agreement
The Company has entered into an Option Agreement (Agreement) with a third-party entity (the Purchaser). The Agreement provides that upon purchasing a total of 4.8 million shares of the Companys common stock from the Company at a price of $0.10 per share, then the Purchaser shall have the option to purchase an additional 15.2 million shares of common stock from the Company at $.10 per share during the period ending on September 3, 2019. The Agreement also provides that if the Purchaser has purchased a total of 8 million shares of the Companys common stock prior to August 15, 2019, then the Purchaser shall have the right during the month of December 2020 to require the Company to purchase up to 20 million of the purchased shares of common stock at $.10 per share, subject to the Companys ability to repurchase such shares in accordance with applicable law. As of August 6, 2019, the Purchaser had purchased 4.8 million shares of the Companys common stock for $480,000 from the Company. |
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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