Annual report pursuant to Section 13 and 15(d)

STOCKHOLDERS' EQUITY (DEFICIT)

v2.4.1.9
STOCKHOLDERS' EQUITY (DEFICIT)
12 Months Ended
Dec. 31, 2014
Notes to Financial Statements  
STOCKHOLDERS' EQUITY (DEFICIT)

NOTE 9 – STOCKHOLDERS’ EQUITY (DEFICIT)

 

On September 10, 2014, the Company sold 135,140 shares of common stock to an investor for cash proceeds of $50,000.

 

On September 15, 2014, the Company sold 75,758 shares of common stock to an investor for cash proceeds of $25,000.

 

On May 9, 2014, the Company issued 62,500 shares of common stock for services to Full Service Marketing. The shares were valued at $0.26 per share for a total non-cash expense of $16,313. Fair market value for the shares was determined by taking the average share price for each cash-for-stock purchase in the period.

 

On June 16, 2014, the Company converted principal and interest due to a creditor totaling $181,359 into 850,000 shares of common stock. The shares were valued at $0.285 which was determined using the average of the most recent stock sales for cash.

 

On July 1, 2014, the Company issued 1,111,617 shares of common stock for services to Namfrod Enterprises. The shares were valued at $0.35 per share for a total non-cash expense of $389,066. Fair market value for the shares was determined by taking the average share price for each cash-for-stock purchase in the period. The compensation stock shall be non-dilutable for a period of twenty four (24) months following the end of the term of the agreement.

 

On August 29, 2014, the Company cancelled 380,000 shares of common stock, that had been issued in a prior period for services, for non-performance of the agreed upon services.

 

On October 15, 2014, the Company sold 10,000 shares of common stock to an investor for cash proceeds of $3,000.

 

On October 15, 2014, the Company issued 37,000 shares of common stock for services to iCore Health. The shares were valued at $0.32 per share for a total non-cash expense of $11,729, $9,255 of which was booked to prepaid expense for marketing services. Fair market value for the shares was determined by taking the average share price for each cash-for-stock purchase in the period.

 

On October 30, 2014, the Company sold 37,037 shares of common stock to an investor for cash proceeds of $10,000.

 

During the fourth quarter, the Company converted principal and interest due to creditor totaling $295,145 into 1,830,158 shares of common stock. The shares were valued at $0.317 which was determined using the average of the most recent stock sales for cash.

 

During the year ended December 31, 2014, the Company converted principal and interest due to creditor totaling $121,165 into 540,000 shares of common stock. The shares were valued at $0.317 which was determined using the average of the most recent stock sales for cash.

 

During the year ended December 31, 2014, the Company converted principal and interest due to creditor totaling $100,000 into 400,000 shares of common stock. The shares were valued at $0.317 which was determined using the average of the most recent stock sales for cash.

 

During the year ended December 31, 2014, the Company converted principal and interest due to creditor totaling $26,230 into 104,920 shares of common stock. The shares were valued at $0.317 which was determined using the average of the most recent stock sales for cash.