Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

v3.8.0.1
Subsequent Events
3 Months Ended
Sep. 30, 2017
Subsequent Events [Abstract]  
Subsequent Events
13. Subsequent Events ● 

In successful continuance of a debt consolidation initiative begun by the Company in September, 2017, the Company entered into two separate convertible promissory notes and security purchase agreements on November 6, 2017 with Eagle Equities LLC.  The first of the two transactions was for $48,647.  The second was for $45,551.  In each case, the use of proceeds was to allow the Company to consolidate existing debt by allowing Eagle Equities, LLC to acquire existing Company notes from third-party noteholders.  In each case, Eagle Equities, LLC paid the existing noteholders an amount equal to principal and interest on each of two notes. One note was originally for $80,000 for which Eagle paid $84,603, and the other was originally for $75,000 for which Eagle paid $79,216. The Company was not a party to either of these transactions. These transactions were reported in a Form 8-K filed on November 9, 2017.

       
    ●  On November 3, 2017, the Company entered into a three-month consulting agreement with Regal Consulting for corporate communications services valued at $20,000 monthly.  Regal will be compensated $10,000 in cash monthly for services provided.  In addition, the Company has issued Regal a six month note for $30,000, which the Company may prepay at any time.  Should the note not be repaid after 180 days, Regal shall have the option to convert the debt to equity at a discount to the then market price.  
       
    ●  On November 3, 2017, the Company entered into a Marketing and Media Agreement with A.S. Austin, whereby the Company shall receive a national TV campaign in exchange for 500,000 shares of restricted common stock.  This Agreement contains provisions which guarantee the Company receives 10,000 television commercial airings on cable networks across the United States.  Should the guarantee not be met, shares proportional to any delivery shortfall will be returned to the Company.  In addition, the restricted shares issued as compensation have a guaranteed value of not less than $50,000, the number of shares will be adjusted if needed.
       
    ●  On November 7, 2017 the Company entered into a convertible promissory note and a security purchase agreement (SPA) dated November 7, 2017. The SPA was for a total of $315,000, consisting of four tranches of funding, each equal to $78,750. The parties closed on the first tranche. There can be no assurance that the Company will receive any further tranches.  
       
   

On October 16, 2017, noteholder Eagle Equities, LLC converted $10,084 of principal and interest of an outstanding note to stock. 161,351 shares were issued to the noteholder in this transaction.

       
    On November 1,  2017, noteholder Eagle Equities, LLC converted $10,120 of principal and interest of an outstanding note to stock. 361,429 shares were issued to the noteholder in this transaction.
       
    On November 13, 2017, noteholder SkyBridge Ventures LLC converted $7,500 of principal of an outstanding note to stock. 267,857 shares were issued to the noteholder in this transaction.
       
    On November 13, noteholder Eagle Equities, LLC converted $10,147 of principal and interest of an outstanding note to stock. 362,381 shares were issued to the noteholder in this transaction.
       
    On November 15, 2017 the Company entered into a convertible promissory note and a security purchase agreement (SPA) dated November 15, 2017. The SPA was for a total of $150,000, consisting of two tranches of funding, each equal to $75,000. The parties closed on the first tranche. There can be no assurance that the Company will receive any further tranches.