Details on Simple Prepay from 10-Q April 30, 2013
Post# of 36729
Posted On: 04/30/2014 1:21:26 PM
Re: AmericanSavage #32139
Details on Simple Prepay from 10-Q April 30, 2013 and 10-K July 31, 2013.
Alternative Energy Partners, Inc.
(A Development Stage Company)
Notes to Condensed Consolidated Financial Statements
April 30, 2013
(Unaudited)
Note 9 Subsequent Events
The Company has signed a definitive agreement in May 2013 to acquire the Simple Prepay TM merchant payment solution from iEquity Corp. The Simple Prepay TM system was developed to offer dispensaries, collectives, and delivery services of medical cannabis a convenient payment solution. Medical marijuana patients will be able to upload funds onto their Simple PrepayTM account via a smart phone application or via a website, allowing them to purchase their medical cannabis needs with privacy and simplicity.
Alternative Energy Partners, Inc.
FORM 10-K
(Annual Report)
Filed 11/13/13 for the Period Ending 07/31/13
We (AEGY) also acquired the Simple Prepay TM merchant payment solution from iEquity Corp in May 2013. The Simple Prepay TM system was developed to offer dispensaries, collectives, and delivery services for medical cannabis, a convenient payment solution. Medical marijuana patients will be able to upload funds onto their Simple Prepay TM account via a smart phone application or via a website, allowing them to purchase their medical cannabis needs with privacy and simplicity.
Our website at www.simpleprepay.com is in the development stages and is expected to go live shortly. The acquisition of the Simple PrepayTM intellectual property and business was closed on May 31, 2013 in exchange for our promissory note payable to iEquity Corp. in the amount of $30,000, due in three years at 8 percent interest and convertible after six months at the election of the Holder at 50 percent of the closing market price of our common stock at the date of closing, May 31, 2013, or a conversion price of $0.00105.
Alternative Energy Partners, Inc.
(A Development Stage Company)
Notes to Condensed Consolidated Financial Statements
April 30, 2013
(Unaudited)
Note 9 Subsequent Events
The Company has signed a definitive agreement in May 2013 to acquire the Simple Prepay TM merchant payment solution from iEquity Corp. The Simple Prepay TM system was developed to offer dispensaries, collectives, and delivery services of medical cannabis a convenient payment solution. Medical marijuana patients will be able to upload funds onto their Simple PrepayTM account via a smart phone application or via a website, allowing them to purchase their medical cannabis needs with privacy and simplicity.
Alternative Energy Partners, Inc.
FORM 10-K
(Annual Report)
Filed 11/13/13 for the Period Ending 07/31/13
We (AEGY) also acquired the Simple Prepay TM merchant payment solution from iEquity Corp in May 2013. The Simple Prepay TM system was developed to offer dispensaries, collectives, and delivery services for medical cannabis, a convenient payment solution. Medical marijuana patients will be able to upload funds onto their Simple Prepay TM account via a smart phone application or via a website, allowing them to purchase their medical cannabis needs with privacy and simplicity.
Our website at www.simpleprepay.com is in the development stages and is expected to go live shortly. The acquisition of the Simple PrepayTM intellectual property and business was closed on May 31, 2013 in exchange for our promissory note payable to iEquity Corp. in the amount of $30,000, due in three years at 8 percent interest and convertible after six months at the election of the Holder at 50 percent of the closing market price of our common stock at the date of closing, May 31, 2013, or a conversion price of $0.00105.
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