NOTE 16 – SUBSEQUENT EVENTS

Effective September 26, 2019, the Board of Directors and the majority shareholder approved a reverse stock split of the Company’s issued and outstanding common stock at a ratio of 1-for-150. The Board of Directors fixed September 25, 2019 as the record date for determining the stockholders entitled to receive notice of the proposed reverse stock split. The reverse stock split will take effect upon the filing of a certificate of amendment with the State of Delaware, and approval by the Financial Industry Regulatory Authority (“FINRA”).

There were no other events subsequent to September 30, 2019, and up to the date of this filing that would require disclosure.