Note 8 – Subsequent Transactions

On October 3, 2019, Newell Trading Group assigned its rights and interests in its $500,000 convertible debenture to the Sammy Farkas Foundation Inc., (the “Foundation”), a related party. The Foundation then entered into an agreement with the Company to extend the maturity date of the convertible debenture to October 10, 2020 in exchange for 54,000 shares of the Company’s stock. In addition, the Company received $40,000 from The Foundation in exchange for a promissory note which bears 12% interest per annum and matures on October 10, 2024 or upon the Company raising $500,000 from outside investors, whichever occurs first. The promissory note comes with a warrant to purchase 40,000 shares of the Company’s stock with an exercise price of $1.00 per share and expires on October 10, 2022.

On October 3, 2019, The Farkas Group, a related party, lent the Company $5,000, unsecured, for one year and one day at an interest rate of 8%.

On October 4, 2019, The Farkas Group, a related party, lent the Company $12,000, unsecured, for one year and one day at an interest rate of 8%.

On October 7, 2019, The Farkas Group, a related party, lent the Company $1,000, unsecured, for one year and one day at an interest rate of 8%.

On October 17, 2019, The Farkas Group, a related party, received a repayment from the Company in the amount of $2,500. 

On October 31, 2019, The Farkas Group, a related party, lent the Company $8,000, unsecured, for one year and one day at an interest rate of 8%.

On November 13, 2019, the Farkas Group, a related party, lent the Company $10,000, unsecured, for one ear and one day at an interest rate of 8%.