ITEM 3.02 UNREGISTERED SALES OF EQUITY SECURITIES
On April 17, 2014, we entered into an agreement with Terrence H. Byberg our president whereby we agreed to convert $20,000 of debt owed to Mr. Byberg to 200,000 Units. Each Unit is comprised of one share of common stock and ½ redeemable warrant. The delivery of a whole warrant and $0.25 to us will allow the holder to receive one restricted share of our common stock. The warrants are exercisable for 2 years and then expire. The warrants are redeemable by us if our stock trades above $0.40 for five consecutive trading days. The payment of the Units was made pursuant the exemption from registration contained in Regulation S of the Securities Act of 1933, as amended.
On April 17, 2014, we entered into an agreement with R. M., a member of our board of directors whereby we agreed to convert $30,000 of debt owed to Mr. Robb to 300,000 Units. Each Unit is comprised of one share of common stock and ½ redeemable warrant. The delivery of a whole warrant and $0.25 to us will allow the holder to receive one restricted share of our common stock. The warrants are exercisable for 2 years and then expire. The warrants are redeemable by us if our stock trades above $0.40 for five consecutive trading days. The payment of the Units was made pursuant the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.
On April 17, 2014, we entered into an agreement with Stephen Roehrig whereby we agreed to convert $21,800 of debt owed to Mr. Roehrig to 218,000 Units. Each Unit is comprised of one share of common stock and ½ redeemable warrant. The delivery of a whole warrant to us will allow the holder to receive one restricted share of our common stock. The warrants are exercisable for 2 years and then expire. The warrants are redeemable by us if our stock trades above $0.40 for five consecutive trading days. The payment of the Units was made pursuant the exemption from registration contained in Regulation S of the Securities Act of 1933, as amended.
On April 17, 2014, we entered into an agreement with Russel Renneberg whereby we agreed to convert $74,900 of debt owed to Mr. Renneberg to 749,000 Units. Each Unit is comprised of one share of common stock and ½ redeemable warrant. The delivery of a whole warrant and $0.25 to us will allow the holder to receive one restricted share of our common stock. The warrants are exercisable for 2 years and then expire. The warrants are redeemable by us if our stock trades above $0.40 for five consecutive trading days. The payment of the Units was made pursuant the exemption from registration contained in Regulation S of the Securities Act of 1933, as amended.
On April 17, 2014, we entered into an agreement with Tsuga Forestry Services Inc. whereby we agreed to convert $9,500 of debt owed to Tusga Forestry Services Inc. to 95,000 Units. Each Unit is comprised of one share of common stock and ½ redeemable warrant. The delivery of a whole warrant and $0.25 to us will allow the holder to receive one restricted share of our common stock. The warrants are exercisable for 2 years and then expire. The warrants are redeemable by us if our stock trades above $0.40 for five consecutive trading days. The payment of the Units was made pursuant the exemption from registration contained in Regulation S of the Securities Act of 1933, as amended.
On April 17, 2014, we entered into an agreement with Interprise Professional Group S. C. whereby we agreed to convert $56,175 of debt owed to Interprise Professional Group S.C. to 561,750 Units. Each Unit is comprised of one share of common stock and ½ redeemable warrant. The delivery of a whole warrant and $0.25 to us will allow the holder to receive one restricted share of our common stock. The warrants are exercisable for 2 years and then expire. The warrants are redeemable by us if our stock trades above $0.40 for five consecutive trading days. The payment of the Units was made pursuant the exemption from registration contained in Regulation S of the Securities Act of 1933, as amended.
On April 17, 2014, we entered into an agreement with Julio Anibal Mendez Garcia whereby we agreed to convert $18,000 of debt owed to Julio Anibal Mendez Garcia to 180,000 Units. Each Unit is comprised of one share of common stock and ½ redeemable warrant. The delivery of a whole warrant and $0.25 to us will allow the holder to receive one restricted share of our common stock. The warrants are exercisable for 2 years and then expire. The warrants are redeemable by us if our stock trades above $0.40 for five consecutive trading days. The payment of the Units was made pursuant the exemption from registration contained in Regulation S of the Securities Act of 1933, as amended.