|6 Months Ended|
Jun. 30, 2020
|Subsequent Events [Abstract]|
In accordance with authoritative guidance, the Company has evaluated any events or transactions occurring after June 30, 2020, the balance sheet date, through the date of filing of this report and note that there have been no such events or transactions that would require recognition or disclosure in the unaudited condensed consolidated financial statements as of and for the quarter ended June 30, 2020, except as disclosed below.
Common Stock issued for services
On July 1, 2020, the Company entered into a consulting agreement for corporate legal advisor services. The consultant shall receive compensation of 750,000 shares of the Company’s Common Stock for services rendered and to be rendered until September 30, 2020.
Conversion of Notes
On July 17, 2020, the Company issued 708,148 shares of its common stock at a contractual conversion price of approximately $0.09, as a result of the conversion of principal of $47,000 and interest of $3,760 of the convertible note.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef