Annual report pursuant to Section 13 and 15(d)

Subsequent Events

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Subsequent Events
12 Months Ended
Dec. 31, 2014
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 9 – SUBSEQUENT EVENTS

 

ASC 855, “Subsequent Events. ASC 855 establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued or are available to be issued. During these periods, the Company did not have any material recognizable subsequent events required to be disclosed other than those disclosed in this note to the financial statements as of and for the year ended December 31, 2014 other than the following:

 

Secured Convertible Note – On February 10, 2015, the Company sold and issued a secured convertible note in the principal amount of $24,000 (the “2015 Note”) with a maturity date of July 31, 2015. The interest rate of the 2015 Note is 5% per annum and all or any outstanding amount of the 2015 Note shall be convertible one year from the date of this 2015 Note at the Holder’s discretion into the Company’s stock at a 25% discount to the market price of the Company’s Common Stock at the time of conversion. The foregoing descriptions of the 2015 Note are qualified in their entirety by reference to the provisions of the 2015 Note which is included as Exhibit 4.3 to this Report and are incorporated by reference herein.