Daniels Corporate Advisory Company, Inc. Just Filed Its Quarterly Report: NOTE 11 - SUBSEQUEN...

NOTE 11 - SUBSEQUENT EVENTS

 

In accordance with FASB ASC 855-10 Subsequent Events, the Company has analyzed its operations subsequent to August 31, 2017 to the date these consolidated financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these consolidated financial statements, except as follows:

 

On April 11, 2018, the Company formed PayLess Truckers, Inc., a wholly-owned subsidiary which was incorporated in the State of Nevada. PayLess is a start-up trucking company whose principal business is to acquire, refurbish, add location electronics, advertise and sell commercial vehicles to drivers and transportation focused customers. In addition, PayLess offers independent drivers the option to lease refurbished vehicles for a period of up to five years with the option to purchase the vehicle at retail value every six months.

 

On October 15, 2018, the Company entered in convertible note agreement with a private and accredited investor, Auctus Fund LLC, in the amount of $350,000, unsecured, with principal and interest (stated at 12%) amounts due and payable upon maturity on July 15, 2019. The note holder has the option to convert any portion of the unpaid principal balance into the Company’s common shares at any time.

 

On February 14, 2019, the Company entered in convertible note agreement with a private and accredited investor, Auctus Fund LLC, in the amount of $57,750, unsecured, with principal and interest (stated at 12%) amounts due and payable upon maturity on November 14, 2019. The note holder has the option to convert any portion of the unpaid principal balance into the Company’s common shares at any time.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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Other recent filings from the company include the following:

Deleted Symbol - Sept. 27, 2019

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