STOCKHOLDERS DEFICIT |
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Sep. 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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STOCKHOLDERS DEFICIT |
NOTE 11 – STOCKHOLDERS DEFICIT Preferred Stock The Company is authorized to issue 100 votes on all matters submitted to a vote to the stockholders of the Company and does not have conversion, dividend or distribution upon liquidation rights. shares of $ par value preferred stock (“Series A Preferred Stock”) as of September 30, 2021 and December 31, 2020 of which shares are outstanding as of September 30, 2021. Each share of Class A Preferred Stock is entitled to
As of September 30, 2021 and December 31, 2020, the Company is authorized to issue 1,000 votes on all matters submitted to a vote to the stockholders of the Company and does not have conversion, dividend or distribution upon liquidation rights. shares of Class B Preferred Stock of which shares are issued and outstanding as of September 30, 2021. Each share of Class B Preferred Stock is entitled to
Common stock As of September 30, 2021, the Company was authorized to issue shares of $ par value common stock. On October 21, 2021, the Company increased its authorized common shares to 22,000,000,000. As of September 30, 2021, and December 31, 2020, the Company had and shares of common stock issued and outstanding, respectively. As of November 15, 2021, there were shares of the Company’s common stock issued and outstanding. During the nine months ended September 30, 2021, the Company issued an aggregate of 661,292. shares of its common stock for services with an estimated fair value of $
During the nine months ended September 30, 2021, the Company issued an aggregate of 153,227,150 related to warrants accounted for as liabilities, in settlement of convertible notes payable, accrued interest of $343,011, and reclassified derivative liabilities of $6,270,052 to additional paid in capital in connection with the conversions. shares of its common stock, including
During the nine months ended September 30, 2021, the Company issued a net amount of 8,623, which included 10,892,411 related to shares to be issued as of December 31, 2020, the cancellation of shares for previous settlements, and 890,334 new shares issued for settlement of accounts payable. shares of its common stock in settlement of liabilities with an estimated fair value of $
During the nine months ended September 30, 2021, the Company issued 141,750. of its common stock upon the settlement of related party notes payable and accounts payable with an estimated fair value of $
During the nine months ended September 30, 2021, the Company issued 63,500. of its common stock upon the exercise of warrants on a cash basis, including warrant liabilities with an estimated value of $During the nine months ended September 30, 2021, the Company sold 1,638,126. of its common stock for an aggregate value of $During the nine months ended September 30, 2021, the Company issued 650,000 and will issue an additional shares for investments with an estimated value of $735,178 related to the Share Exchange Agreement. The investment balance is $650,000, with a liability of $754,961 included in subscriptions payable related to the value of the additional shares to be issued. The Company recognized a loss of $735,178 related to these additional shares during the nine months ended September 30, 2021. of its common stock with a value of $During the nine months ended September 30, 2021, the Company issued 650,000 for investments with an estimated value of $650,000 related to the Cannabis Global Exchange Agreement. shares of its common stock with a value of $
The Company was authorized to issue shares of $ par value common stock as of September 30, 2021, and as of October 21, 2021, is authorized to issue shares of common stock. As of December 31, 2020, the Company was authorized to issue shares of $ par value common stock. As of September 30, 2020 and December 31, 2019, the Company had and shares of common stock issued and outstanding, respectively.
During the nine months ended September 30, 2020, the Company issued an aggregate of 6,700. shares of its common stock to settle amounts previously accrued with an estimated fair value of $
During the nine months ended September 30, 2020, the Company issued an aggregate of 665,767. shares of its common stock for services with an estimated fair value of $
During the nine months ended September 30, 2020, the Company issued an aggregate of 6,522,619. shares of its common stock in settlement of convertible notes payable, accrued interest and embedded derivative liabilities of an aggregate of $During the nine months ended September 30, 2020, the Company issued 50,613. of its common stock upon the conversion of related party notes payable with an estimated fair value of $During the nine months ended September 30, 2020, the Company issued shares of its common stock upon the exercise of warrants on a cashless basis.During the nine months ended September 30, 2020, the Company issued 1,283,632. shares of its common stock in settlement of a legal case with an estimated fair value of $On January 17, 2020, the Company entered into an amendment of an existing convertible promissory note issued to Paladin. The Company authorized the issuance of a warrant to purchase up to shares of the Company’s common stock, which warrant could be exercised on a cashless basis. This warrant was exercised during the three months ended June 30, 2020.Options As of September 30, 2021, the Company has no outstanding stock options. Warrants The following table summarizes the stock warrant activity for the nine months ended September 30, 2021:
Certain warrants issued to debt holders have reset provisions whereby upon subsequent issuances of common stock at a price below the current exercise price, the number of warrants increase and the exercise price is reduced to the new price. The aggregate intrinsic value in the preceding tables represents the total pretax intrinsic value, based on options with an exercise price less than the Company’s stock price of $ as of September 30, 2021, which would have been received by the option holders had those option holders exercised their options as of that date.
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