Quarterly report pursuant to Section 13 or 15(d)

11. SUBSEQUENT EVENTS

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11. SUBSEQUENT EVENTS
6 Months Ended
Jun. 30, 2015
Notes to Financial Statements  
NOTE 11 - SUBSEQUENT EVENTS

The Company has evaluated events and transactions that occurred from June 30, 2015 through the date of filing, for possible disclosure and recognition in the financial statements.  Except as discussed below, the Company did not have any material subsequent events that impacts its financial statements or disclosures.

 

On July 10, 2015, the Company was notified by Benchworks that they were terminating the Marketing Agreement discussed in Note 8.

 

On July 16, 2015, the Company entered into an amendment with JDF Capital, Inc. of its convertible note agreement for an additional $100,000 in net proceeds.  The terms of the amendment are in agreement to the original JDF Note terms as discussed in Note 3. The Company used these proceeds to pay its full obligation on the JMJ Financial convertible note agreement. discussed on Note 3, on July 17, 2015.

 

In July 2015, the Company issued 303,571 shares of its common stock in exchange for services previously recorded in accrued expenses and other current liabilities on the accompanying balance sheet.  The shares were issued pursuant to the Board approved shares reserved for vendors and consultants discussed in Note 4.