Annual report pursuant to Section 13 and 15(d)

EQUITY TRANSACTIONS

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EQUITY TRANSACTIONS
12 Months Ended
Sep. 30, 2019
Stockholders' Equity Note [Abstract]  
EQUITY TRANSACTIONS

NOTE 6 - EQUITY TRANSACTIONS

 

Common stock issued for cash

 

In December 2018, the Company sold 3,333,334 shares of common stock to unrelated parties for $100,000 in cash.

 

Common stock issued for notes payable

 

On June 18, 2019, the note holders converted $65,000 of notes payable, $22,302 of accrued interest and $7,204 of accrued dividends into 3,150,199 shares of common stock (See Note 5).

 

Preferred Stock Dividends

 

As of September 30, 2019 and September 30, 2018, the cumulative arrearage of undeclared dividends for Series A Preferred stock totaled $41,921 and $88,683, respectively.

 

As discussed above, on June 18, 2019, the shareholder converted $7,204 of accrued dividends into shares of common stock (See Note 7).

 

On September 20, 2019, the shareholder converted $80,596 of accrued dividends into 1,611,912 shares of common stock (See Note 7).

As of September 30, 2019 and 2018, the cumulative arrearage of undeclared dividends for Series A Preferred stock totaled $41,920 and $88,683, respectively.

 

Subscription Agreements between VoiceInterop, Inc., our wholly-owned subsidiary and private investors

 

During the year ended September 30, 2018, Voiceinterop committed to sell 600,000 shares of its common stock to private investors for $68,000. The shares issuance is contingent upon a spin-off of the Company from Cleartronic, Inc. into a separate company. As of September 30, 2019, $68,000 is recorded as due to unrelated parties as the spin-off has not been completed and the shares have not been issued. This amount is included in liabilities from discontinued operations (See Note 9).

 

Declaration of Stock Dividend

 

On April 23, 2018, the board of Directors declared a stock dividend for common stock shareholders and for certain classes of preferred stock shareholder   of the Company. That each common shareholder would receive .075 shares of VoiceInterop common stock for each one (1) share of Cleartronic stock held by the shareholder, and that each shareholder of Series C and D Preferred stock shall receive .375 shares of VoiceInterop common stock for each one (1) share of Series C or Series D Preferred stock held by the shareholder.

 

The record date of the dividend distribution shall be defined as the first business day following an effective statement from the United States Securities and Exchange Commission (“SEC”) regarding a pending S-1 filing. On May 13, 2019 Voiceinterop filed an S-1 registration statement with the SEC. The Company will distribute 17,819,548 shares of VoiceInterop common stock to it’s shareholders.