Quarterly report pursuant to Section 13 or 15(d)

SUBSEQUENT EVENTS

v3.24.2.u1
SUBSEQUENT EVENTS
3 Months Ended
Jun. 30, 2024
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 12 – SUBSEQUENT EVENTS

 

Subsequent to the period end, through the date of the filing, the Company sold 21,106,846 shares of common stock at a net amount of approximately $103,000, at share prices of $0.004 through $0.007, in relation to the Equity Financing Agreement.

 

On July 3, 2024, the Company and the Investor entered into an Exchange Agreement on the Restructured Senior Note. In the Exchange Agreement the remaining Restructured Senior Note was partitioned into a $90,000 new promissory note, leaving the original Restructured Senior Note outstanding balance to be reduced by $90,000. The partitioned note was exchanged for 10,000,000 shares of the Company’s common stock. The shares of common stock issued had a fair value of $90,000 based on the market price of the shares of $0.009 on the execution date

 

On July 10, 2024, the Company received a tranche of $100,000 under the SPA for 100 Series G Preferred Stock with a stated value of $120,000. The $20,000 discount will be accreted up to the redemption price over the one-year period until redemption.

 

On July 24, 2024, one of the holders converted 85 Series E Preferred Stock into 12,289,157 shares of common stock.