Get Started for Free Contexxia identifies hard-to-find pieces of information in SEC filings. No more highlighters, no more redlining, no more poring over huge documents. One2one Living Corp (1454311) 10-Q published on Nov 19, 2013 at 3:52 pm
Reporting Period: Sep 29, 2013
The Conversion price shall be a 42% discount to Market Price of the Company’s common stock. Market price is defined the lowest trading price of the Company’s common stock during the 10 trading days prior to the conversion date.
The Company has agreed to pay Greentree for its services a professional service fee of 1,000,000 restricted shares of the Company’s stock plus 250,000 two-year warrants with a exercise price of $0.05 per share. As of September 30, 2013 the shares and warrants had not been issued.
On July 17, 2013, the Company issued 5,000,000 shares of common stock in lieu of cash as per a consulting Agreement signed on April 2, 2013 with Alliance International Capital Management Group, Ltd. The estimated fair value of the common shares issued at time of the signed agreement was $800,000 was recorded as a stock-based compensation during the period (refer to Note 10).
For the three months ending September 30, 2013, we incurred a total of $861,066 in operating expenses, consisting of $7,817 of general and administrative expenses, web development expenses of $6,354, management fees of $17,959, stock-based compensation of $800,000, marketing expense of $23,274 and professional fees of $5,662. Other expenses for the three months ending September 30, 2013, was interest expense of $6,928 and hds $121 of interest income and other income of $121. By comparison with the three months ending September 30, 2012, we incurred general and administrative expenses of $5,874 and marketing expenses of $35,000. Other expenses for the three months ending September 30, 2012, were $14,352 and we had interest income of $2,948.
For the six months ending September 30, 2013, we incurred a total of $1,018,430 in operating expenses, consisting of $30,025 of general and administrative expenses, consulting fees of $13,986, web development expenses of $28,049, management fees of $68,594, stock-based compensation of $800,000, marketing expenses of $55,386 and professional fees were $22,300. Other expenses for the six months ending September 30, 2013, was interest expense of $23,201, a finance cost of $410,100, interest income and other income of $359 and other income of $407. By comparison with the six months ending June 30, 2012, we incurred general and administrative expenses of $42,388 and marketing expenses of $41,000. Other expenses for the six months ending September 30, 2012, were $14,352 and we had interest income of $5,468.