Subsequent events |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Subsequent events | |
| Subsequent events | 13. Subsequent events
On July 7, 2026, the Company issued an unsecured promissory note in the amount of $10,000. The note has a coupon rate of 10% and a 6 month term.
On August 6, 2026, a shareholder returned 1,250,000 shares to the Company. During the three months ended June 30, 2026, the shareholder converted notes payable and accrued interest into common stock, which put his ownership percentage over the 4.99%. As a result, he returned to 1,250,000 shares to the Company to be compliant with the 4.99% beneficial ownership limitation. The return of shares has no impact on the conversion and the Company has no obligation to give the shareholder the shares at a future date.
On August 14, 2026, stockholders having a majority of the voting power of the outstanding shares of the Company’s stock, approved a board resolution to increase the authorized shares of common stock from 500,000,000 to 5,000,000,000, and for such increase to be completed on or before September 30, 2026. |