Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

v3.7.0.1
Subsequent Events
3 Months Ended
Jun. 30, 2017
Subsequent Events [Abstract]  
Subsequent Events
15. Subsequent Events

 

(a) Subsequent to June 30, 2017, the Company received share subscription proceeds of $150,000 for shares of common stock at a price of $0.80 per share relating to a non-brokered private placement.

 

(b) On July 14, 2017, the Company entered into a new memorandum of understanding (“MOU”) to define terms for a new joint venture (the “Venture”) with a non-related party replacing the joint venture agreement described in Note 14(b). The Company will hold 50.1% of the new Venture share capital and determine specified strategic decision making, and provide technical support. The Venture will be responsible for sales of ENVI-systems, manufacturing and support in the Asia and Russia regions.

 

(c) On August 10, 2017, the Company was provided notice to convert $20,000 of the principal outstanding on the convertible debenture. Refer to Note 6.