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SUBSEQUENT EVENTS
12 Months Ended
Dec. 31, 2024
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 13 – SUBSEQUENT EVENTS

 

The Company has evaluated events occurring subsequent to December 31, 2024, through the date these financial statements were issued, and has determined that the following events qualify as subsequent events.

 

Two small loans with an aggregate of face value of $20,000 that were concluded on January 31, 2024, with two third party shareholders were extended and will now expire on December 31, 2026.

 

January 3, 2025, the Company issued a Series “F” Note with a face value of $145,000 issued to a non-related third-party shareholder that will mature January 2, 2027.

 

April 3, 2025, the Company issued a Series “F” Note with a face value of $75,000 issued to a non-related third-party shareholder that will mature April 2, 2027

 

April 17, 2025, the Company issued a Series “F” Note with a face value of $100,000 issued to a non-related third-party shareholder that will mature April 16, 2027

 

On June 30, 2025, the Board of Directors, noting that the subscription payments due to affect the issuance of the twenty thousand shares of Class “A” Preferred Stock payable in accordance with the subscription agreements entered into on May 29, 2024, had not been paid, and following notice duly given, cancelled the said subscriptions. In addition, at the same time the Board of Directors revoked and cancelled the entire series of Class “A” Preferred Stock.

 

On June 30, 2025, the Board of Directors, noting that the subscription payments due to affect the issuance of the twenty thousand shares of Class “F” Preferred Stock payable in accordance with the subscription agreements entered into on September 23, 2024 had not been paid, and following notice duly given, cancelled the said subscriptions. In addition, at the same time the Board of Directors revoked and cancelled the entire series of Class “A” Preferred Stock.

 

During the period commencing on October 1, 2024 and ending with the date of the present Report, the Company financed its business through the issuance of twelve new convertible notes (Series F) with an aggregate principal face value of $860,000.

 

In 2026 the Company extended the maturity dates of total principal amount of $715,000 in convertible notes until December 31, 2026. The Comnpany  also extended the maturity dates of seven promissory notes until December 31, 2026 with a total principal balance of $770,000.

 

On September 13, 2025, two loans, each with a principal amount of $125,000 and due to be repaid on September 14, 2025 were extended with the new due date for both loans fixed as October 16, 2025.

 

On January 5, 2026, Benton Wilcoxon serving as both Board of Directors and Chief Executive Officer resigned his positions at the request of the Company’s two main investors. Mr. Johnson who currently serves as President and Director assumed the role of CEO and sole Officer of the Company.(see 8k filed January 20,2026).

 

Electronic Servitor Publication Network, Inc. and B F Borgers reached a settlement, for all claims by Plaintiff and the Class against Borgers. The total award to the company was $35,955.71. On January 12, 2026 the Company added an additional two Directors. (see 8k filed May 8,2026).

 

On Jun 22, 2026, the Company entered into Subscription Agreements with the company’s two main accredited investors. The investors purchased a total of 80,000 newly authorized Series “B” Preferred Shares through the cancellation of secured debt. The two accredited investors entered into Subscription Agreements to purchase the new Series “B” Preferred Shares authorized by the Company’s Board of Directors on or about July 19, 2026. This resulted in a decrease of $200,000 of debt owed to Ann Mollicone and a decrease of $200,000 of debt owed to Arastou Mahjoory for a total reduction in corporate debt on the balance sheet of $400,000. This transaction resulted in a change of control of the Company. (see 8K filed 7-22-2026)