Quarterly report pursuant to Section 13 or 15(d)

15. Subsequent Events

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15. Subsequent Events
 6 Months Ended
Jun. 30, 2017
Subsequent Events [Abstract]  
Subsequent Events

Pursuant to FASB ASC 855, Management has evaluated all events and transactions that occurred from June 30, 2017 through the date of issuance of these financial statements. During this period, we did not have any significant subsequent events, except as disclosed below:

 

  · Effective July 13, 2017, the Company entered into an employment agreement with Gregory B. Payne for the position of Chief Operating Officer. Mr. Payne will be entitled to be paid a salary at the annual rate of $225,000 per year. The term of the agreement is one year with a mutual option for an additional one-year period.

 

  · On August 7, 2017, the Company issued to a consultant 6,012 shares of our common stock for services rendered.

 

  · On various dates subsequent to June 30, 2017, an investor converted 105 shares of Series A Convertible Preferred Stock into 35,000 shares of the Company’s common stock at a conversion price of $3.00.