$31MM market cap with $12600 in revs......makes se
Post# of 7795
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Posted On: 11/15/2019 5:46:54 AM
$31MM market cap with $12600 in revs......makes sense.
So SFRX is in the best fiscal shape it's EVER been in? 943,888,433 shares issued already in 2019.
As of November 11, 2019 , there were 4,384,607,171 shares of the registrant’s common stock, $.0001 par value per share, outstanding.
Compare that to a year ago.
As of November 15, 2018 , there were 3,417,109,917 shares of the registrant’s common stock, $.0001 par value per share, outstanding.
On November 14 the Board of Directors voted to increase the authorized shares of the Corporation from 4,900,000,000 common shares to 6,900,000,000 common shares.
Common Stock Issuances
During the nine month period ended September 30, 2019, the Company issued or is to issue the following shares of common stock:
642,029,999 restricted shares for total proceeds of $1,210,940.
130,370,616 fully vested and non-forfeitable restricted shares for services provided by consultants, contractors, advisory members, board members, and other service providers. The Company determined the fair value of the shares issued using the stock price on date of issuance. Compensation expense is recognized as the services are provided to the Company. For the three and nine month periods ended September 30, 2019, we incurred $59,325 and $477,068 of compensation expense for stock issued for services and have prepaid expenses of $59,249 at September 30, 2019 for stock issued prior to services being performed.
57,960,743 restricted shares to settle $290,679 of principal and accrued interest owed on various convertible notes payable and one note payable.
7,000,000 restricted shares to settle an account payable in the amount of $7,000 .
5,000,000 restricted shares to one of our convertible note payable lenders as a penalty for failure to repay the convertible note when due. The fair value of these shares was determined to be $7,500 based on the market price of the stock on date issued in accordance with the convertible note payable agreement.
4,000,000 restricted shares issued as charitable contributions to three separate charities. The Company determined the fair value of the shares issued using the stock price on date of issuance. For the three and nine month periods ended September 30, 2019, we incurred $32,900 and $32,900 of charitable donation expense for stock which is included in general and administrative expenses in the statement of operations.
NOTE 10 – SUBSEQUENT EVENTS
Subsequent to September 30, 2019 the Company issued or has agreed to issue shares of its common stock as follows (Unaudited):
(i) sales of 62,766,666 shares of common stock under subscription agreements for approximately $171,500 in proceeds, used for general corporate purposes, working capital and repayment of debt;
(ii) issuance of 760,409 shares of common stock for services; and
(iii) 34,000,000 shares of common stock with a value at $200,600 on the date of the agreement for the purchase of a vessel and trailer.
Subsequent to September 30, 2019 the following convertible notes payable went into default (Unaudited):
1) A convertible note payable originally due October 23, 2019 with a face amount of $20,000.
https://www.sec.gov/Archives/edgar/data/11062...rm10-q.htm
So SFRX is in the best fiscal shape it's EVER been in? 943,888,433 shares issued already in 2019.
As of November 11, 2019 , there were 4,384,607,171 shares of the registrant’s common stock, $.0001 par value per share, outstanding.
Compare that to a year ago.
As of November 15, 2018 , there were 3,417,109,917 shares of the registrant’s common stock, $.0001 par value per share, outstanding.
On November 14 the Board of Directors voted to increase the authorized shares of the Corporation from 4,900,000,000 common shares to 6,900,000,000 common shares.
Common Stock Issuances
During the nine month period ended September 30, 2019, the Company issued or is to issue the following shares of common stock:
642,029,999 restricted shares for total proceeds of $1,210,940.
130,370,616 fully vested and non-forfeitable restricted shares for services provided by consultants, contractors, advisory members, board members, and other service providers. The Company determined the fair value of the shares issued using the stock price on date of issuance. Compensation expense is recognized as the services are provided to the Company. For the three and nine month periods ended September 30, 2019, we incurred $59,325 and $477,068 of compensation expense for stock issued for services and have prepaid expenses of $59,249 at September 30, 2019 for stock issued prior to services being performed.
57,960,743 restricted shares to settle $290,679 of principal and accrued interest owed on various convertible notes payable and one note payable.
7,000,000 restricted shares to settle an account payable in the amount of $7,000 .
5,000,000 restricted shares to one of our convertible note payable lenders as a penalty for failure to repay the convertible note when due. The fair value of these shares was determined to be $7,500 based on the market price of the stock on date issued in accordance with the convertible note payable agreement.
4,000,000 restricted shares issued as charitable contributions to three separate charities. The Company determined the fair value of the shares issued using the stock price on date of issuance. For the three and nine month periods ended September 30, 2019, we incurred $32,900 and $32,900 of charitable donation expense for stock which is included in general and administrative expenses in the statement of operations.
NOTE 10 – SUBSEQUENT EVENTS
Subsequent to September 30, 2019 the Company issued or has agreed to issue shares of its common stock as follows (Unaudited):
(i) sales of 62,766,666 shares of common stock under subscription agreements for approximately $171,500 in proceeds, used for general corporate purposes, working capital and repayment of debt;
(ii) issuance of 760,409 shares of common stock for services; and
(iii) 34,000,000 shares of common stock with a value at $200,600 on the date of the agreement for the purchase of a vessel and trailer.
Subsequent to September 30, 2019 the following convertible notes payable went into default (Unaudited):
1) A convertible note payable originally due October 23, 2019 with a face amount of $20,000.
https://www.sec.gov/Archives/edgar/data/11062...rm10-q.htm
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