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.
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.
No definition available.