Adaiah Distribution Inc. Just Filed Its Quarterly Report: The Company has eval...

The Company has evaluated events subsequent to JULY 31 2019 to assess the need for potential recognition or disclosure in this report. Such events were evaluated through the date these financial statements were available to be issued. Based upon this evaluation, it was determined that other than the event disclosed above, no other subsequent events occurred that require recognition or disclosure in the financial statements.

 

On August 10 2019 the Company signed a convertible note for the funds advanced by the CEO as of July 31 2019 in the amount of $11,631 (and for future funds to be advanced). The note can be converted any time by the CEO at a conversion price of $0.001, per common share, the stated par value. None of the balance was converted as at July 31 2019.

 

On August 10 2019 a resolution was signed by the Company for the onetime payment of $50,000 to the CEO as oncoming to the Board and as acting as chief accounting officer and secretary and an additional salary compensation of $10,000 per month from June 1 2019 thru the end of the fiscal year October 31 2019. As of July 31 2019, $70,000 has been accrued as compensation. The compensation is being paid in the form of common stock of the Company at a value of $0.001 per share the stated par value.

 

On September 5 2019 the Company issued 100,000,000 common shares of the Company to the CEO pursuant to the equity compensation agreement signed August 10 2019 for the fiscal year ending October 31 2019.

 

On September 5 the Company issued 5,000,000 common shares upon conversion of $5,000 of the convertible note signed on August 10 2019.

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

To receive a free e-mail notification whenever Adaiah Distribution Inc. makes a similar move, sign up!

Other recent filings from the company include the following:

Adaiah Distribution Inc. Just Filed Its Annual Report:  The Company has eva... - Jan. 9, 2020

Auto Refresh

Feedback