http://www.otcmarkets.com/edgar/GetFilingHtml...ID=9622257
13. Subsequent Events
Management has evaluated subsequent events through the date the financial statements were issued. Based on our evaluation the following events have occurred and require disclosure:
On October 23, the Company requested the resignation of Gayle Dickie from her role on the Board of Directors and as the Company’s President. Ms. Dickie served as an interim Board Member during the company’s restructuring of management. Gayle accepted and offered her resignation.
On October 23, the Board of Directors appointed Steve Samblis as President of the Company and Joshua Mandel was appointed as a Director of the Company.
The Company received $16,000 in proceeds from an unrelated third party in exchange for a convertible promissory note at an annual interest rate of 8% on any unpaid principal and a maturity date of nine months from the date of funding.
The Company issued 345,805,195 shares in satisfaction of payments on its convertible promissory notes.
This puts an exclamation point on the fact that the details of the library deal were mysteriously left out.
(0)
(0)
