Quarterly report pursuant to Section 13 or 15(d)

Sales of common stock

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Sales of common stock
9 Months Ended
Sep. 30, 2016
Equity [Abstract]  
Common Stock

Note 6 – Sales of common stock

On September 8, 2016, the Company convened an annual general meeting of shareholders and increased the authorized number of shares from 400,000,000 to 600,000,000. However, the Company will still not have sufficient common shares available to issue if all the conversions and exercises occur.

During the nine months ended September 30, 2016, the Company has issued common stock as follows:  

During the period January 1, 2016 to September 23, 2016 the Company issued 64,580,000 units at a price of $0.05 per unit for proceeds of $3,229,000. Each unit is comprised of one share and one share purchase warrant to acquire a second share at a price of $0.20 per share acquired, with a two-year term on the attached warrant.

  

On January 19, 2016 the Company issued 1,578,463 shares at a price of $0.044 per share for the settlement of convertible notes payable with a total value of $69,626. See note 7(l).

 

On January 20, 2016 the Company issued 200,000 shares at a price of $0.06 per share for the partial settlement of convertible notes payable with a total value of $12,000. See note 7(e).

 

On February 20, 2016 the Company issued 225,000 shares at a price of $0.09 per share in settlement of services valued at $20,250.

 

On February 26, 2016 the Company issued 312,650 shares at a price of $0.05 per share for the settlement of convertible notes payable with a total value of $15,633. See note 7(n).

 

On February 29, 2016 the Company issued 45,455 shares at a price of $0.11 per share in settlement of services valued at $5,000.

 

On March 6, 2016 the Company issued 11,500,000 shares at a price of $0.05 per share for a conversion of convertible notes payable with a total value of $575,000. After this settlement the balance of principal and interest due under this convertible note at March 31, 2016 was nil. See note 7(d).

 

On March 25, 2016 the Company issued 500,000 shares at a price of $0.05 per share for a conversion of convertible notes payable with a total value of $25,000. See note 7(b).

 

On March 31, 2016 the Company issued 115,000 units at a price of $0.05 per unit for services with a total value of $5,750. Each unit is comprised of one common share and one share purchase warrant to acquire a second share at a strike price of $0.20 with a two-year term.

 

On March 31, 2016 the Company issued 300,784 units at a price of $0.05 per unit for services with a total value of $15,039. Each unit is comprised of one common share and one share purchase warrant to acquire a second share at a strike price of $0.20 with a two-year term.

 

On March 31, 2016 the Company issued 300,000 units at a price of $0.05 per unit for services with a total value of $15,000. Each unit is comprised of one common share and one share purchase warrant to acquire a second share at a strike price of $0.20 with a two-year term.

 

On April 1, 2016 the Company issued 300,000 units at a price of $0.05 per unit for services with a total value of $15,000. Each unit is comprised of one common share and one share purchase warrant to acquire a second share at a strike price of $0.20 with a two-year term.

 

On May 1, 2016 the Company issued 327,863 units at a price of $0.05 per unit for services with a total value of $16,393. Each unit is comprised of one common share and one share purchase warrant to acquire a second share at a strike price of $0.20 with a two-year term.

 

On April 30, 2016 the Company issued 250,000 units at a price of $0.05 per unit for services with a total value of $12,500. Each unit is comprised of one common share and one share purchase warrant to acquire a second share at a strike price of $0.20 with a two-year term.

 

On May 2, 2016 the Company issued 187,500 shares at a price of $0.08 per share for the settlement of convertible notes payable with a total value of $15,000. See note 7(e).

 

On May 2, 2016 the Company issued 1,375,000 shares at a price of $0.06 per share for the settlement of convertible notes payable with a total value of $82,500. See note 7(e).

 

On May 3, 2016 the Company issued 1,500,000 shares at a price of $0.05 per share for the settlement of convertible notes payable with a total value of $75,000. See note 7(g).

 

On May 15, 2016 the Company issued 391,740 shares at a price of $0.06 per share for the settlement of convertible notes payable with a total value of $23,504. After this settlement the balance of principal and interest due under this convertible note at June 30, 2016 $44,763. See note 7(n).

 

On May 20, 2016 the Company issued 1,000,000 shares at a price of $0.05 per share for the settlement of convertible notes payable with a total value of $50,000. See note 7(g).

 

On May 20, 2016 the Company issued 225,000 shares at a price of $0.06 per share in settlement of services valued at $13,500.

 

On May 31, 2016 the Company issued 547,100 shares at a price of $0.05 per share for the settlement of convertible notes payable with a total value of $27,355. See note 7(r).

 

On May 31, 2016 the Company issued 323,200 shares at a price of $0.065 per share for the settlement of convertible notes payable with a total value of $21,008. See note 7(o).

 

On May 31, 2016 the Company issued 1,660,000 shares at a price of $0.05 per share in settlement of debt valued at $83,000.

 

On May 31, 2016 the Company issued 100,000 units at a price of $0.05 per unit for services with a total value of $5,000. Each unit is comprised of one common share and one share purchase warrant to acquire a second share at a strike price of $0.20 with a two-year term.

 

On June 3, 2016 the Company issued 846,804 shares at a price of $0.06 per share in settlement of debt valued at $50,808. See litigation note 14.

 

On June 30, 2016 the Company issued 547,100 shares at a price of $0.05 per share for the settlement of convertible notes payable with a total value of $27,355. See note 7(r).

 

On June 30, 2016 the Company issued 214,142 units at a price of $0.05 per unit for services with a total value of $10,707. Each unit is comprised of one common share and one share purchase warrant to acquire a second share at a strike price of $0.20 with a two-year term.

 

On July 12, 2016 the Company issued 1,750,000 shares at a price of $0.09 per share in settlement of debt valued at $157,500.

 

On July 14, 2016 the Company issued 333,333 shares at a price of $0.105 per share for the settlement of convertible notes payable with a total value of $35,000. See note 7(f).

 

On July 15, 2016 the Company issued 323,648 shares at a price of $0.07 per share for the settlement of convertible notes payable with a total value of $22,655. See note 7(n).

 

On July 15, 2016 the Company issued 629,560 units at a price of $0.05 per unit for services with a total value of $31,478. Each unit is comprised of one common share and one share purchase warrant to acquire a second share at a strike price of $0.20 with a two-year term.

 

On August 4, 2016 the Company issued 448,717 shares at a price of $0.078 per share for the settlement of convertible notes payable with a total value of $35,000. See note 7(f).

 

On August 5, 2016 the Company issued 300,114 shares at a price of $0.07 per share for the settlement of convertible notes payable with a total value of $21,008.  See note 7(o).

 

On August 5, 2016 the Company issued 510,000 units at a price of $0.05 per unit for services with a total value of $25,500. Each unit is comprised of one common share and one share purchase warrant to acquire a second share at a strike price of $0.20 with a two-year term.

 

On August 5, 2016 the Company issued 318,750 shares at a price of $0.08 per share for services with a total value of $25,500.

 

On August 11, 2016 the Company issued 750,000 shares at a price of $0.073 per share with a total value of $54,750 for the settlement of a law suit filed April 22, 2016 (see note 14 – litigation). The litigation and warrant agreement of issuing warrants to purchase 3,000,000 shares of common stock to which this lawsuit relates will be settled in full upon delivery of the total 750,000 shares. 

 

On August 15, 2016 the Company issued 388,667 shares at a price of $0.066 per share for the settlement of convertible notes payable with a total value of $25,652. See note 7(q).

 

On August 19, 2016 the Company issued 450,000 shares at a price of $0.07 per share in settlement of services valued at $31,500.

 

On August 26, 2016, the Company issued 500,000 shares at a price of $0.05 per share for the settlement of convertible notes payable with a total value of $25,000.  See note 7(b).

 

On September 6, 2016, the Company issued 751,333 shares at a price of $0.05 per share for the settlement of convertible notes payable with a total value of $37,567. See note 7(p).

 

On September 20, 2016, the Company issued 535,500 shares at a price of $0.08 per share in settlement of contingent liabilities valued at $42,840.

 

During the period between September 20, 2016 to September 23, 2016 the Company issued 12,441,668 shares at a price of $0.05 per share pursuant to the notices of exercise of warrants for aggregate proceeds of $622,083.

 

On September 27, 2016, the company issued 83,333 units at a price of $0.06 per unit for proceeds of $5,000. Each unit is comprised of one share and one-quarter share purchase warrant to acquire a second share at a price of $0.20 per share acquired, with a two-year term on the attached warrant.

 

On September 27, 2016 the Company issued 347,808 shares at a price of $0.05 per share on conversion of a convertible note payable with a total value of $17,390. See note 7(p).