Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

v3.10.0.1
Subsequent Events
6 Months Ended
Dec. 31, 2018
Subsequent Events [Abstract]  
Subsequent Events

16. Subsequent Events Between the dates of January 1, 2019 and February 15, 2019, investor Eagle Equities, LLC converted a total of $313,777 of principal and interest from outstanding notes into Company stock. 3,204,557 shares were issued in conjunction with these conversions, an average price of $.0979 per share.
       
    ●  On January 28, 2019 the Company entered into a convertible promissory note and security purchase agreement dated and funded January 28, 2019, in the amount of $234,000. The lender was Eagle Equities, LLC.
       
    ●  On January 11, 2019, Registrant’s SEC attorney Frank Hariton agreed to convert $16,000 in Registrant Accounts Receivable to stock. With a previous close at $.22, the two parties agreed that $.16/share of restricted stock was fair compensation for the outstanding debt. The Company issued 100,000 shares and eliminated the payable.
       
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On February 4, 2018, the Registrant entered into a “Lock Up” Agreements with its largest shareholder, Sean Folkson, owner of 16,753,568 shares. Folkson has agreed to not transfer, sell, or otherwise dispose of any shares of his NGTF stock during the next twelve months.

 

As part of this agreement, Folkson received warrants to acquire 400,000 shares of NGTF common stock at an exercise price of $.30 per share. All warrants carry a twelve month term and a cashless provision, and will expire if not exercised within the twelve month term.

 

This event was disclosed on a Form 8K dated February 6, 2019

       
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On February 6, 2019, the Registrant entered into a “Leak-Out” Agreement with Peter Leighton, former affiliate and owner of 4,000,000 shares, which will restrict Leighton’s ability to sell, transfer, or otherwise dispose of his shares above a certain, mutually agreed-upon monthly threshold.

 

This event was disclosed on a Form 8K dated February 6, 2019

       
    ●  Between the dates of January 1, 2019 and February 14, 2019, in the ordinary course of business, the Company issued 86,600 shares for services to vendors and consultants.
       
    ●  On February 8, 2019, the Registrant’s common stock, traded under the symbol NGTF, was approved for trading on the OTCQB, effective February 11, 2019.
       
   

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On February 15, 2019 the Company entered into a convertible promissory note and security purchase agreement dated and funded February 15, 2019, in the amount of $100,000. The lender was Eagle Equities, LLC.