Annual report pursuant to section 13 and 15(d)

SUBSEQUENT EVENTS

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SUBSEQUENT EVENTS
12 Months Ended
Sep. 30, 2013
SUBSEQUENT EVENTS [Abstract]  
SUBSEQUENT EVENTS

NOTE 12 - SUBSEQUENT EVENTS

 

Management has evaluated subsequent events through January 13, 2014, which is the date the consolidated financial statements were issued.

 

Preferred Share Designations

 

In December 2013, the Board of Directors voted to amend the Company's Articles of Incorporation to change the conversion rights of the Series C and Series D Convertible Preferred Stock. Each share of the Series C and Series D Preferred Stock is convertible into five shares of common stock.

 

Common Stock Issuances

 

In November 2013, an investor purchased 40,000,000 shares of common stock for $200,000 cash.

 

In December 2013, an investor purchased 10,000,000 shares of common stock for $100,000 cash.

 

Preferred Stock Issuances

 

In November 2013, the Company issued 35,000 shares of Series C Preferred stock to a consulting firm for services valued at $10,000.