Next 1 Interactive, Inc. Just Filed Its Quarterly Report: Note 15 – Subseque...

Note 15 – Subsequent Events
 
The Company has evaluated subsequent events occurring after the balance sheet date and has identified the following:
 
Next 1 Interactive, Inc.
 
During December 2014 and January 2015, the Company:
 
·
received $20,000 in proceeds and issued 4,000 shares of Series B Preferred stock.
 
·
received $120,000 in proceeds and issued 24,000 shares of Series C Preferred stock and 1,200,000 one to two year common stock warrants with an exercise price of $0.01 and 1,000,000 one year common stock warrants of RealBiz with an exercise price of $0.01.
 
·
received $2,500 in proceeds upon the exercise of 50,000 common stock warrants and issued 50,000 shares of common stock.
 
·
received $5,000 in proceeds as partial payment in anticipation of the exercise of common stock warrants not executed as of the date of this filing.
 
·
received $25,000 in proceeds from a related party investor and the Company issued a 15 day bridge loan agreement with an annual interest rate of 6% due on or before December 19, 2014. As of the date of this filing, the loan is past due.
 
·
the Company is currently analyzing the above transactions for proper accounting treatment.
 
RealBiz Media Group, Inc.
 
During December 2014 and January 2015, the Company:
 
·
received $460,000 in proceeds and issued convertible promissory notes with interest rates of 12% per annum, maturity dates of December 31, 2016 and with a range of fixed rate conversion features.
 
·
received $75,000 in proceeds and issued 750,000 common shares and 750,000 one year warrants with an exercise price of $0.18.
 
·
the Company is currently analyzing the above transactions for proper accounting treatment.

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

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