Quarterly report pursuant to Section 13 or 15(d)

LOAN PAYABLE, RELATED PARTIES

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LOAN PAYABLE, RELATED PARTIES
6 Months Ended
Jun. 30, 2015
LOAN PAYABLE, RELATED PARTIES  
LOAN PAYABLE, RELATED PARTIES

NOTE 4 – LOAN PAYABLE, RELATED PARTIES

 

As of December 31, 2014, Chris Maggiore, a director and a significant shareholder of the Company, advanced the Company $134,670 and Officers advanced the Company $6,344. 

 

During the six months ended June 30, 2015, HEP Investments, LLC loaned the Company $1,205,000 (see Note 6 - Convertible Debt). Pursuant to the terms of our agreement with HEP Investments, $1,067,500 of these loans were converted to Convertible Secured Promissory Notes, leaving a remaining balance of $137,500 in Loans Payable – Related Parties as of June 30, 2015.

 

During the first six months of 2015, Christopher Maggiore a director and a significant shareholder of the Company, advanced the Company an additional $21,735 for a total of $156,405 as of June 30, 2015.