Quarterly report pursuant to sections 13 or 15(d)

SUBSEQUENT EVENTS

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SUBSEQUENT EVENTS
3 Months Ended
Dec. 31, 2012
SUBSEQUENT EVENTS [Abstract]  
SUBSEQUENT EVENTS

NOTE 8 -

SUBSEQUENT EVENTS

 

Management has evaluated subsequent events through February 19, 2019, which is the date the consolidated financial statements were issued.

 

In January 2013, the Company entered into exchange agreements with 14 common stockholders to exchange 23,743 shares of common stock for 236,145 shares of Series C Convertible Preferred stock.

 

In January 2013, two consultants to the Company agreed to receive 14,916 shares of Series C Convertible Preferred stock in exchange for cancellation of 3,630 options and warrants.

 

In January 2013, two consultants agreed to receive 20,200 shares of Series C Convertible Preferred stock in exchange for forgiveness of $50,500 in accrued consulting fees due.

 

In January 2013, the CEO of the Company exercised the conversion of 8,000 shares of Series C Preferred stock at the stated conversion rate of 250,000 shares of common stock for each share of Series C Preferred stock resulting in the issuance of 2,000,000,000 restricted shares of common stock.