Quarterly report pursuant to Section 13 or 15(d)

SUBSEQUENT EVENTS

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SUBSEQUENT EVENTS
6 Months Ended
Jun. 30, 2015
Notes to Financial Statements  
Note 18. SUBSEQUENT EVENTS

During the third quarter of 2015, debt and accrued interest in the amount of $648,421 was converted into 8,564,312 shares our common stock. 

 

During the third quarter of 2015, we issued 9,469,341 shares of our common stock (with a value of $804,894) to certain of our directors, employees, consultants, and counsel for services rendered. We had accrued $590,157 for the first six months of 2015 with the balance of $214,737 being recorded in the third quarter of 2015. During the third quarter of 2015, we also issued 800,000 shares of our Series B Preferred Stock (with a value of $366,130) to an officer for services rendered. We had accrued $290,565 for the first six months of 2015 with the balance of $75,565 being recorded in the third quarter of 2015. 

 

In the third quarter of 2015 pursuant to an effective Registration Statement, S-1 the Company sold 1,500,000 common shares for the net amount of $219,777. 

 

During the third quarter 2015, the Company acquired two acres of land in Spanish Springs, Nevada for total consideration of $344,124. The Company intends to build a cannabis grow facility on the land that will support a future laboratory and dispensaries.