SUBSEQUENT EVENTS |
6 Months Ended |
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Jun. 30, 2015 | |
Notes to Financial Statements | |
Note 18. SUBSEQUENT EVENTS |
During the third quarter of 2015, debt and accrued interest in the amount of $648,421 was converted into 8,564,312 shares our common stock.
During the third quarter of 2015, we issued 9,469,341 shares of our common stock (with a value of $804,894) to certain of our directors, employees, consultants, and counsel for services rendered. We had accrued $590,157 for the first six months of 2015 with the balance of $214,737 being recorded in the third quarter of 2015. During the third quarter of 2015, we also issued 800,000 shares of our Series B Preferred Stock (with a value of $366,130) to an officer for services rendered. We had accrued $290,565 for the first six months of 2015 with the balance of $75,565 being recorded in the third quarter of 2015.
In the third quarter of 2015 pursuant to an effective Registration Statement, S-1 the Company sold 1,500,000 common shares for the net amount of $219,777.
During the third quarter 2015, the Company acquired two acres of land in Spanish Springs, Nevada for total consideration of $344,124. The Company intends to build a cannabis grow facility on the land that will support a future laboratory and dispensaries. |
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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