We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Advantego Corporation (CE) | USOTC:ADGO | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.000001 | 0.00 | 01:00:00 |
COLORADO | 84-1116515 |
(State or other jurisdiction
of incorporation or organization)
|
(I.R.S. Employer
Identification No.)
|
Large accelerated filer
|
☐
|
Accelerated filer
|
☐
|
|
Non-accelerated filer
|
☐
|
Smaller reporting company
|
☒
|
|
|
Emerging growth company
|
☐ |
Golden Eagle International, Inc.
|
||||
For the Three Months Ended March 31, 2017
|
||||
REVENUES
|
$
|
-
|
||
OPERATING EXPENSES
|
||||
General and administrative
|
159,532
|
|||
Total operating expenses
|
159,532
|
|||
OPERATING (LOSS)
|
(159,532
|
)
|
||
OTHER INCOME (EXPENSE)
|
||||
Interest expense
|
(5,029
|
)
|
||
Total other (expense)
|
(5,029
|
)
|
||
Loss before income taxes
|
(164,561
|
)
|
||
Income taxes
|
-
|
|||
NET LOSS
|
(164,561
|
)
|
||
Basic and diluted (loss) per share
|
$
|
(0.00
|
)
|
|
Weighted average shares outstanding - basic and diluted
|
159,883,328
|
Golden Eagle International, Inc.
|
||||
For the Three Months Ended March 31, 2017
|
||||
CASH FLOWS FROM OPERATING ACTIVITIES
|
||||
Net (loss)
|
$
|
(164,561
|
)
|
|
Amortization of debt discount
|
2,876
|
|||
Changes in operating assets and liabilities
|
||||
Increase in accounts payable -related parties
|
107,266
|
|||
Increase in accrued interest, notes payable -related parties
|
748
|
|||
Increase in accrued interest, notes payable
|
1,405
|
|||
|
||||
Net cash flows (used by) operating activities
|
(52,266
|
)
|
||
CASH FLOWS FROM INVESTING ACTIVITIES
|
-
|
|||
CASH FLOWS FROM FINANCING ACTIVITIES
|
||||
Proceeds from convertible note payable
|
50,000
|
|||
|
||||
Net cash flows provided by financing activities
|
50,000
|
|||
NET CHANGE IN CASH
|
(2,266
|
)
|
||
CASH - BEGINNING OF PERIOD
|
46,111
|
|||
CASH - END OF PERIOD
|
$
|
43,845
|
||
SUPPLEMENTAL CASH FLOW INFORMATION
|
||||
Schedule of Non-Cash Investing and Financing Activities
|
$
|
-
|
||
Cash paid for:
|
||||
Interest
|
$
|
-
|
||
Income taxes
|
-
|
Basic weighted average shares outstanding
|
159,883,328
|
|||
Warrants | 6,000,000 | |||
Convertible debt
|
4,515,591
|
|||
Series B preferred stock
|
120,000
|
|||
|
||||
Total
|
170,518,919
|
As of March 31, 2017
|
As of December 31, 2016
|
|||||||||||||||
Note Description
|
Principal
|
Accrued Interest
|
Principal
|
Accrued Interest
|
||||||||||||
Gulf Coast Capital, LLC (a)
|
$
|
30,112
|
$
|
19,583
|
$
|
30,112
|
$
|
19,211
|
||||||||
Avcon Services, Inc. (b)
|
30,500
|
2,290
|
30,500
|
1,914
|
||||||||||||
Totals
|
$
|
60,612
|
$
|
21,873
|
$
|
60,612
|
$
|
21,125
|
||||||||
Less debt discount
|
(5,646
|
)
|
(6,022
|
)
|
||||||||||||
Net Convertible Notes Payable - Related Parties
|
$
|
54,966
|
$
|
54,590
|
(a)
|
Gulf Coast Capital, LLC is a company owned by Mark Bogani, our former CEO. The note is uncollateralized, dated September 30, 2016, and represents the consolidation of various smaller notes payable previously outstanding totaling $145,112 plus $15,471 in accrued interest. Interest continues to accrue at the rate of 5%, with principal and interest being due on demand and convertible into our common stock at the option of the lender at a fixed rate of $.025 per share. Upon the note's inception, there was a beneficial conversion feature totaling $29,022 that is being amortized ratably over the five-year conversion period (with acceleration if converted) and netted against the principal balance as a debt discount. On December 30, 2016, Gulf Coast Capital converted $115,000 of the note into 4,600,000 shares of the Company's common stock, resulting in an unpaid principal balance of $30,112 as of March 31, 2017 and December 31, 2016. Debt discount amortization totaled $376 for the three months ended March 31, 2017, resulting in an unamortized debt discount balance of $5,646 and $6,022 at March 31, 2017 and December 31, 2016, respectively. Interest expense totaled $372 for the three months ended March 31, 2017, resulting in accrued interest of $19,583 and $19,211 at March 31, 2017 and December 31, 2016, respectively. The net balance of the note was $24,466 and $24,090 on March 31, 2017 and December 31, 2016, respectively.
|
(b)
|
Avcon Services, Inc. is a company owned by Tracy Madsen, our former CFO. The note represents amounts due for CFO services during the period of June 2014 through September 2015 totaling $30,500, is uncollateralized, is dated December 31, 2015, carries an interest rate of 5%, and is due on demand. The note and accrued interest, or any portion thereof, are convertible at the option of Avcon, into the Company's common stock at a fixed rate of $.025 per share at any time through December 31, 2020. Interest expense for the three months ended March 31, 2017 was $376, resulting in accrued interest of $2,290 and $1,914 as of March 31, 2017 and December 31, 2016, respectively.
|
Warrants
|
Stock
Price
|
Exercise
Price
|
Expected
Life (Yrs)
|
Risk-Free
Rate
|
Warrant
Value
|
Number of Warrants
|
Extended
Value
|
Series A
|
$.025
|
$.05
|
.75
|
.54%
|
$.010625
|
2,000,000
|
$21,249
|
Series B
|
$.025
|
$.10
|
1.75
|
.69%
|
$.014909
|
2,000,000
|
$29,817
|
Series C
|
$.025
|
$.20
|
2.75
|
.85%
|
$.017384
|
2,000,000
|
$34,767
|
Total
|
|
|
|
|
|
|
$85,833
|
Cash (used in) operations
|
$
|
(52,266
|
)
|
|
Proceeds from convertible note payable
|
$
|
50,000
|
● |
the lack of formal written documentation relating to the design of our controls.
|
● |
we did not maintain adequate segregation of duties related to job responsibilities for initiating, authorizing, and recording of certain transactions due to the small size of our company.
|
● |
we do not have sufficient personnel to provide adequate risk assessment functions.
|
● |
we do not have an audit committee.
|
GOLDEN EAGLE INTERNATIONAL, INC. | |||
November 20, 2017
|
By:
|
/s/ Robert Ferguson | |
Robert Ferguson, Principal Executive Officer | |||
By: | /s/ Philip F. Grey | ||
Philip F. Grey, Principal Financial Officer |
1 Year Advantego (CE) Chart |
1 Month Advantego (CE) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions