Quarterly report pursuant to Section 13 or 15(d)

SUBSEQUENT EVENTS

v2.4.1.9
SUBSEQUENT EVENTS
6 Months Ended
Mar. 31, 2015
SUBSEQUENT EVENTS [Abstract]  
SUBSEQUENT EVENTS

NOTE 8 -    SUBSEQUENT EVENTS

 

In April 2015, a shareholder converted 283,250 shares of Series A Convertible Preferred stock into 28,325,000 shares of common stock.

 

In May 2015, the Company entered into a Securities Purchase Agreement with a private investor in connection with the issuance of a 8% convertible promissory note in the amount of $43,000. The note matures on February 11, 2016. The note is convertible into shares of the Company's common stock at the greater of; (i) the variable conversion price (58% multiplied by the market price) that is equal to the average of the three (3) lowest closing bid prices of the Common Stock during the ten (10) trading day period prior to the date of conversion or (ii) the fixed conversion price of $.00005. The Note also contains a prepayment option whereby the Company may make payments to the holder based on the length of time the Note has been outstanding, upon three (3) trading days' prior written notice to the holder.