Quarterly report pursuant to Section 13 or 15(d)

NOTE 10 - SUBSEQUENT EVENTS

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NOTE 10 - SUBSEQUENT EVENTS
9 Months Ended
Sep. 30, 2017
Subsequent Events [Abstract]  
NOTE 10 - SUBSEQUENT EVENTS

NOTE 10 – SUBSEQUENT EVENTS


On October 20, 2017, the Company received a short-term unsecured loan in the amount of $50,000 from JMJ Financial.  The note was issued with a 20% Original Issue Discount (OID) and a 10% one-time interest charge.  The note has a maturity of the earlier of 12 months or closing of a funding of at least $500,000.


On October 30, 2017, the Company received a short-term unsecured loan in the amount of $25,000 from JMJ Financial.  The note was issued with a 20% Original Issue Discount (OID) and a 10% one-time interest charge.  The note has a maturity of the earlier of 12 months or closing of a funding of at least $500,000.


On November 14, 2017, the Company obtained a further amendment #4 to the Securities Purchase Agreement (“SPA”) and the $2,500,000 Promissory Note (“Note”). This amendment extended the original Maturity Date for the Promissory Note from August 31, 2017 to November 16, 2017 (“Extended Maturity Date”) and extended the Origination Shares issuance date in the Stock Purchase Agreement from August 31, 2017 to November 16, 2017.


On November 16, 2017, the Company obtained a further amendment #5 to the Securities Purchase Agreement (“SPA”) and the $2,500,000 Promissory Note (“Note”). This amendment extended the original Maturity Date for the Promissory Note from November 16, 2017 to November 18, 2017 (“Extended Maturity Date”) and extended the Origination Shares issuance date in the Stock Purchase Agreement from November 16, 2017 to November 18, 2017.

 

On November 20, 2017, the Company obtained a further amendment #6 to the Securities Purchase Agreement ("SPA") and the $2,500,000 Promissory Note ("Note"). This amendment extended the original Maturity Date for the Promissory Note from November 18, 2017 to November 22, 2017 ("Extended Maturity Date") and extended the Origination Shares issuance date in the Stock Purchase Agreement from November 18, 2017 to November 22, 2017.