• Filing Date: 2018-08-09
  • Form Type: 10-Q
  • Description: Quarterly report
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4. STOCKHOLDERS' DEFICIT
6 Months Ended
Jun. 30, 2018
Equity [Abstract]  
STOCKHOLDERS' DEFICIT

NOTE 4: STOCKHOLDERS’ (DEFICIT)

  

Shares issued for Original Interest Discount

 

During the quarter ended June 30, 2018, the Company issued 10,500,000 shares of common stock at a price per share between $0.04 and $0.05 for original issue discount on receipt of $375,000 in unsecured convertible promissory notes.

 

On June 20, 2018, the Company entered into a strategic investment transaction with Glen Eagles Acquisitions LP (“GEA”). As part of the strategic investment, the Company received 4,500,000 shares of Gopher Protocol Inc. common stock (traded in the OTC Market under the symbol “GOPH”) and cash in exchange for 150,000,000 shares of its restricted common stock. There was also an origination fee of 15,000,000 shares of its restricted common stock paid to GEA by the Company in connection with this transaction. There were no commissions or finder’s fees paid by the Company in connection with this transaction.