|3 Months Ended|
Mar. 31, 2018
|Notes to Financial Statements|
|NOTE 16. SUBSEQUENT EVENTS||
Equity Financing Facility
Subsequent to March 31, 2018, the Company issued 366,909 shares of common stock for cash in the amount of $1,000,000 pursuant to an equity financing with an accredited investor.
Debt and Interest Converted into Equity
Subsequent to March 31, 2018, senior convertible promissory notes and accrued interest in the amount of $5,500,000 and $88,126, respectively, were converted into 2,791,804 shares of common stock.
In April 2018, the Company amended the note receivable with NuLeaf to extend the maturity date to August 1, 2018. In the event the State of Nevada does not approve the agreement the Company entered into with NuLeaf, see Note 5 Notes Receivable, the note receivable must be repaid by quarterly payments beginning November 1, 2018.
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.
No definition available.