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Athena Bitcoin Global - Quarter Report: 2014 June (Form 10-Q)

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

 

FORM 10-Q

 

(Mark One)

 

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the period ended June 30, 2014

 

OR

 

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from _____________ to _______________

 

Commission file number:

000-27435

 

GAMEPLAN, INC.

(Exact name of small business issuer as specified in its charter)

 

NEVADA   87-0493596
(State or other jurisdiction of incorporation or organization)   (I.R.S. Employer Identification No.)

 

     
6140 Plumas Street, Suite 200, Reno, Nevada   89519
(Address of principal executive offices)   (Zip Code)

 

Registrant's telephone number, including area code: (775) 815-4752

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

 

x Yes  o No

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

 

x Yes  o No

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of “large accelerated filer," "accelerated filer” and "smaller reporting company" in Rule 12b-2 of the Exchange Act.

 

     
Large accelerated filer  o   Accelerated Filer  o
Non-accelerated filer  o (Do not check if smaller reporting company)   Smaller Reporting Company  x

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

 

o Yes  x No

 

As of August 11, 2014, the number of shares of Common Stock, $.001 par value, outstanding was 165,750,000.

 

 
 

 

TABLE OF CONTENTS

 

    PAGE
     
PART I FINANCIAL INFORMATION  
     
ITEM 1. Financial Statements 3
ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 9
ITEM 3. Quantitative and Qualitative Disclosures About Market Risk 12
ITEM 4. Controls and Procedures 12
     
PART II OTHER INFORMATION  
     
ITEM 1. Legal Proceedings 13
ITEM 1A. Risk Factors 13
ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 13
ITEM 3. Defaults Upon Senior Securities 13
ITEM 4. Mine Safety Disclosures 13
ITEM 5. Other Information 13
ITEM 6. Exhibits 14

 

2
 

 

PART I – FINANCIAL INFORMATION

 

Item 1. Financial Statements

 

GAMEPLAN, INC.

(A Development Stage Company)

Condensed Balance Sheets

(Unaudited)

 

   June 30,
2014
   December 31,
2013
 
ASSETS          
Current Assets          
Cash  $351   $ 
Accounts receivable – related party   9,500     
Total Current Assets   9,851     
           
TOTAL ASSETS  $9,851   $ 
           
LIABILITIES & STOCKHOLDERS' DEFICIT          
Current Liabilities          
Accounts Payable  $   $1,730 
Accrued Director compensation   12,500    12,500 
Payable to Shareholders   1,541,475    1,399,452 
Total Current Liabilities   1,553,975    1,413,682 
           
Long-Term Liabilities          
Payable to Shareholders        
Total Long-Term Liabilities        
           
Total Liabilities   1,553,975    1,413,682 
           
Stockholders' Deficit          
Preferred Stock – $0.001 par value; 50,000,000 shares authorized; 0 issued and outstanding at June 30, 2014 and December 31, 2013, respectively        
Common Stock – $0.001 par value; 250,000,000 shares authorized; 165,750,000 issued and outstanding at June 30, 2014 and December 31, 2013, respectively   165,750    15,225 
Additional paid-in capital   731,561    1,206,291 
Accumulated deficit during the development stage   (2,441,435)   (2,635,198)
Total Stockholders' Deficit   (1,544,124)   (1,413,682)
TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT  $9,851   $ 

 

See accompanying notes to condensed financial statements.

 

3
 

 

GAMEPLAN, INC.

(A Development Stage Company)

Condensed Statements of Operations

For the three and six month periods ended June 30, 2014 and 2013

and for the period from inception through June 30, 2014

(Unaudited)

 

   For the Three
Months Ended
   For the Three
Months Ended
   For the Six
Months Ended
   For the Six
Months Ended
   Inception
Through
 
   06/30/2014   06/30/2013   06/30/2014   06/30/2013   06/30/2014 
Revenues:                         
Consulting Fees  $   $   $   $   $768,042 
Commissions                   137,034 
Book Sales                   40 
Other Income                   27,168 
Total Revenue                   932,284 
Expenses                         
General and Administrative   20,342    1,970    73,360    6,700    2,333,272 
Stock-based compensation   2,300,497    23,936    2,300,497    47,872    2,779,223 
Program & Development   1,304        1,304        1,304 
Total Expenses   2,322,143    25,906    2,375,161    54,572    5,113,799 
                          
Operating Loss   (2,322,143)   (25,906)   (2,375,161)   (54,572)   (4,181,515)
                          
Interest income                   16,064 
Interest expense   (28,897)   (26,027)   (56,504)   (51,187)   (1,270,771)
Gain/(loss) on asset sales                   (29,477)
Total Other Income/(Expense)   (28,897)   (26,027)   (56,504)   (51,187)   (1,284,184)
Net Loss before taxes   (2,351,040)   (51,933)   (2,431,665)   (105,759)   (5,465,699)
Income Taxes                   1,164 
Net Loss before extraordinary item   (2,351,040)   (51,933)   (2,431,665)   (105,759)   (5,466,863)
Extraordinary item:                         
"Lost Opportunity" settlement                   400,000 
Net Income From Extraordinary Items                   400,000 
                          
Net Loss  $(2,351,040)  $(51,933)  $(2,431,665)  $(105,759)  $(5,066,863)
                          
Net Loss Per Share – Basic and Diluted  $(0.01)  $(0.03)  $(0.01)  $(0.07)  $(0.45)
Weighted Average Number of shares outstanding – Basic and Diluted   165,750,000    1,522,500    165,750,000    1,522,500    11,356,336 

 

See accompanying notes to condensed financial statements.

 

4
 

 

GAMEPLAN, INC.

(A Development Stage Company)

Condensed Statements of Cash Flows

For the six month periods ended June 30, 2014 and 2013

and for the period from inception through June 30, 2014

(Unaudited)

 

   For the Six
Months Ended
   For the Six
Months Ended
   Inception
Through
 
   06/30/2014   06/30/2013   06/30/2014 
Cash Flow Used for Operating Activities:               
Net Loss  $(2,431,664)  $(105,759)  $(5,066,863)
Adjustments to Reconcile net loss to net cash used for operating activities:               
Depreciation           174,645 
Bad Debt Expense           911 
Notes issued in exchange for interest expense           59,588 
Notes issued in exchange for accrued interest           49,589 
Stock issued for expenses           3,000 
Stock-based compensation   2,300,497    47,872    2,779,223 
Loss on disposal of assets           29,477 
Changes in operating liabilities:               
Increase in accounts receivable   9,500        9,500 
Increase/(Decrease) in accounts payable   (1,730)   (997)    
Increase/(Decrease) in accrued director fees           12,500 
Increase/(Decrease) in accrued expenses   56,503    51,187    919,679 
Net Cash Flows Used for Operating Activities   (66,895)   (7,697)   (1,028,751)
                
Cash Flows used for Investing Activities:               
Capital expenditures           (520,761)
Proceeds from disposal of property           316,641 
Net Cash Flows Used for Investing Activities           (204,120)
                
                
Shareholder loan proceeds   67,246    7,697    1,724,449 
Loan Principal Payments           (531,018)
Proceeds from Issuance of Common Stock            39,791 
Net Cash Flows From Financing Activities   67,246    7,697    1,233,222 
                
Net Increase / (Decrease) in cash   351         351 
                
Beginning Cash Balance            
Ending Cash Balance  $351   $   $351 
                
Supplemental Disclosures:               
Cash Paid for Taxes  $   $   $ 
Cash Paid for Interest  $   $   $ 

 

See accompanying notes to condensed financial statements

 

5
 

 

GAMEPLAN, INC.

(A Development Stage Company)

Notes to Condensed Financial Statements

June 30, 2014

(Unaudited)

 

NOTE 1 – BASIS OF PRESENTATION

 

The accompanying condensed financial statements have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission.   Certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted.  These interim financial statements include all adjustments consisting of normal recurring entries, which in the opinion of management, are necessary to present a fair statement of the results for the period.  It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. The results of operations for the period ended June 30, 2014, are not necessarily indicative of the operating results for the full year.

 

NOTE 2 – RELATED PARTY TRANSACTIONS

 

During the six months ended June 30, 2014, shareholders loaned an additional $75,700 to the Company to pay operating expenses. These loans bear interest at 8% per annum. The payable to shareholders accrued an $56,503 in interest for the six months ended June 30, 2014. These loans are due on demand. If no demand then the entire unpaid balance and accrued interest is due and payable on or before March 1, 2015 with no penalty for prepayment.

 

NOTE 3 – GOING CONCERN

 

The Company has incurred losses from inception, has a net working capital deficiency, and has no operating revenue source as of June 30, 2014.  Financing the Company’s activities to date has primarily been the result of borrowing from a shareholder and others.  The Company’s ability to achieve a level of profitable operations and/or obtain additional financing may impact the Company’s ability to continue as it is presently organized.  Management plans to pursue the business plan of its wholly-owned subsidiary Vpartments, Inc. as discussed in Note 7. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

 

NOTE 4 – RECENTLY ENACTED ACCOUNTING PRONOUNCEMENTS

 

The Company has reviewed all recently issued, but not yet adopted, accounting standards in order to determine their effects, if any, on its consolidated results of operation, financial position or cash flows. Based on that review, the Company believes that none of these pronouncements will have a significant effect on its financial statements.

 

NOTE 5 – STOCK OPTIONS

 

Incentive Stock Option Plan

 

On October 17, 2008 the Board adopted an Incentive Stock Option Plan and, pursuant to that Plan, adopted the following Incentive Stock Option Plan for each Director: Each Director (5) was given the option to purchase 100,000 Rule 144 shares of the common voting stock of GamePlan, Inc. yearly for a period of 5 years at the strike price of $0.20 per share through all option periods. Each option exercise period shall be for a term of three (3) years from the date of the option grant. The first option period commenced on the date of this meeting (Oct. 17, 2008). Subsequent options shall be granted on Oct. 17, 2010, Oct. 17, 2011, Oct. 17, 2012 and the final stock option grant on Oct. 17, 2013 on condition that the Directors are Directors at the time of the subsequent option grants.  The Company determined that all 2,500,000 were granted for financial reporting purposes on October 17, 2008 based on the guidance in FASB ASC 718, Stock Compensation.  The Company and the Directors have a mutual understanding of the key terms and conditions of the award.  The Directors are immediately affected by changes in the Company’s share price. The Company is obligated to issue the options if the director satisfies the service requirement.  Finally, all necessary approvals were obtained.  In all events, GamePlan Inc. shall have the right of first refusal to meet the sale price of the stock.

 

6
 

 

Options

 

On April 1, 2014, the Company granted options to purchase 6,000,000 shares of its unregistered and restricted common stock to its President and CEO, Robert G. Berry, at an exercise price of $0.20 per share. The options vested upon the date of the grant and are exercisable for a period of five years from the Closing date of the Plan. The fair value of the options on the date of grant, using the Black-Scholes model, is $2,300,497. Variables used in the Black-Scholes option-pricing model for the options issued include: (1) a discount rate of 1.74%, (2) expected term of 2.5 years, (3) expected volatility of 284.9%, and (4) zero expected dividends.

During the six months ended June 30, 2014, the Company recognized stock option based compensation expense of $2,300,497. The remaining amount of unamortized stock options expense at June 30, 2014 was -0-.

The intrinsic value of outstanding and exercisable options at June 30, 2014 was $1,425,000, respectively.

The intrinsic value of outstanding and exercisable options at December 31, 2013 was $-0-, respectively.

Option activity during the six months ended June 30, 2014 was:

   Number of Shares   Weighted Average Exercise Price   Weighted Average Remaining Contract Term (# years) 
Outstanding at January 1, 2014   1,500,000   $0.20    1.79 
Granted   6,000,000    0.20      
Exercised              
Forfeited and canceled              
                
Outstanding at June 30, 2014   7,500,000   $0.20    4.06 
                
Exercisable at June 30, 2014   7,500,000   $0.20    4.06 

 

7
 

 

NOTE 6 – COMMON STOCK

 

On February 18, 2014, our Board of Directors declared a dividend on our outstanding common stock on the basis of ten for one (10 for 1) so that the net effect of the dividend is a ten for one forward split of our outstanding common stock. Accordingly, the stock dividend was treated as a forward split and all common share and per share amounts have been retroactively adjusted to reflect this re-capitalization.

 

NOTE 7 – MERGER EVENT

 

On April 2, 2014, the Company closed on an Agreement and Plan of Merger with VPartments, Inc.; VPartments Acquisition Corp., a Georgia corporation that was formed as a wholly-owned subsidiary of the Company; and Mark D. Anderson, Sr., who was the beneficial owner of approximately 60.1 percent of the issued and outstanding shares of common stock of VPartments, Inc. At closing, Vpartments Acquisition Corp. merged with and into VPartments, Inc. The Company issued a total of 150,525,000 “unregistered” and “restricted” shares of its common stock to the stockholders of VPartments Inc., causing such stockholders to become the collective owners of approximately 90.8 percent of the Company’s issued and outstanding shares of common stock.   On April 2, 2014, VPartments Acquisition Corp. ceased to exist by virtue of its merger into VPartments; and VPartments, Inc. became a wholly-owned subsidiary of the Company.

 

Prior to the execution of the Plan and the Closing of the Merger, the Company had no material assets or operations. Following the Closing, the business and plan of operation of the Company will be those of its wholly-owned subsidiary, VPartments, Inc., which are described below.

 

VPartments is the developer and owner of VPartments.com – a social commerce site that we believe to be a disruptive departure from online social networking norms. VPartments provides an interactive portal for people to connect in a more meaningful way by maximizing the full potential of cutting edge 3D technologies.

 

8
 

 

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

 

Forward Looking Statements

 

From time to time, our representatives or we have made or may make forward-looking statements, orally or in writing. Such forward-looking statements may be included in, but not limited to, press releases, oral statements made with the approval of an authorized executive officer or in various filings made by us with the Securities and Exchange Commission (the “Commission”). Words or phrases "will likely result", "are expected to", "will continue", "is anticipated", "estimate", "project or projected", or similar expressions are intended to identify "forward-looking statements". Such statements are qualified in their entirety by reference to and are accompanied by the discussion of certain important factors included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2013, and its Current Reports on Form 8-K filed with the Commission on March 28, 2014, and April 3, 2014, respectively, that could cause actual results to differ materially from such forward-looking statements.

 

Management is currently unaware of any trends or conditions other than those mentioned in this management's discussion and analysis that could have a material adverse effect on the Company's consolidated financial position, future results of operations, or liquidity.  However, investors should also be aware of factors that could have a negative impact on the Company's prospects and the consistency of progress in the areas of revenue generation, liquidity, and generation of capital resources. These include: (i) variations in revenue, (ii) possible inability to attract investors for its equity securities or otherwise raise adequate funds from any source should the Company seek to do so, (iii) increased governmental regulation, (iv) increased competition, (v) unfavorable outcomes to litigation involving the Company or to which the Company may become a party in the future and, (vi) a very competitive and rapidly changing operating environment.

 

The risks identified here and in the Company's Form 10-K for the fiscal year ended December 31, 2013, and its Current Reports on Form 8-K filed with the Commission on March 28, 2014, and April 3, 2014, respectively, are not all inclusive. New risk factors emerge from time to time and it is not possible for management to predict all of such risk factors, nor can it assess the impact of all such risk factors on the Company's business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Accordingly, forward-looking statements should not be relied upon as a prediction of actual results.

 

The information set forth in the following discussion should be read with the financial statements of Gameplan, Inc. included elsewhere herein.

 

Business Overview

 

For the last several years the Company attempted to bring to market through mergers or acquisitions comprehensive business plans described in the Company’s previous Annual Reports. After many years of focused efforts to do so, we were not able to gain traction for these plans. With our acquisition of VPartments, Inc., as disclosed in our Current Reports on Form 8-K filed with the Commission on March 28, 2014, and April 3, 2014, respectively, the game plan has now changed with our acquisition of VPartments.

 

Summary of Company history

 

The Company (Qsip # 36465 c 10 5, Tax I.D. # 870493596, publicly traded under the symbol GPLA.OB) was incorporated in Utah on August 26, 1981 under the name Sunbeam Solar, Inc. On April 27, 1984, common stock was sold publicly. During the latter part of 1991, Robert G. Berry purchased ninety percent (90%) of the Company’s stock. On December 23, 1991 the Company merged with GamePlan, Inc., a Nevada public corporation. From 1992 to 1995 GamePlan actively sought gaming opportunities both in Indian and non-Indian venues and had gaming consulting contracts with the Menominee Tribe in Wisconsin and the San Carlos Apache Tribe in Arizona. From 1996 until the completion of the GamePlan acquisition on April 2, 2014, the Company was a public shell and is current in all regulatory filings required of bulletin board companies. On August 1, 2011 the Company amended its articles of incorporation to increase the Company’s authorized common stock from 50,000,000 to 250,000,000 shares and the creation of a class of preferred stock, par value $0.001, with 50,000,000 authorized. The preferred stock will have the designations, rights, and preferences as may be determined by the board of directors.

 

9
 

 

On February 18, 2014, our Board of Directors declared a dividend on our outstanding common stock on the basis of ten for one (10 for 1) so that the net effect of the dividend is a ten for one forward split of our outstanding common stock.   Accordingly, the stock dividend was treated as a forward split and all common share and per share amounts have been retroactively adjusted to reflect this re-capitalization.

 

As of June 30, 2014, following the closing of the VPartments acquisition on April 2, 2014, of the 250 million shares authorized there were 165,750,000 common shares outstanding with no appreciable market value. As of June 30, 2014, the Company was indebted to its controlling shareholders in the amount of $1,541,475.

 

OPERATING RESULTS - OVERVIEW

 

For the three months ended June 30, 2014 we incurred a net loss of $50,543, a decrease of $1,390 from $51,933 for the three months ended June 30, 2013.  For the 6 months ended June 30, 2014 we incurred a net loss of $131,167, and increase of $25,408 from $105,759 for the six months ended June 30, 2013. The basic loss per share for the current and prior year six months ended June 30 was $(7.91) and $(0.07), respectively.

 

Details of changes in revenues and expenses can be found below.

 

OPERATING RESULTS REVENUES

 

Revenues for the six months ended June 30, 2014 and 2013 were $0.

 

OPERATING RESULTS COST OF SALES

 

There were no sales and consequently no costs were incurred for the six months ended June 30, 2014 and 2013.

 

OPERATING RESULTS OPERATING EXPENSES

 

Operating expenses for the three months ended June 30, 2014 decreased by $4,260 to $21,646 as compared to $25,906 for the three months ended June 30, 2013. These operating expenses were incurred for general business purposes including accounting, legal, and consulting fees incurred in relation to our filings with the Commission. Compensation expenses were $-0- for the current quarter and $23,936 for the quarter ending June 30, 2013. There are no new stock based compensation expenses incurred for our officers and directors in lieu of cash compensation.

 

Operating expenses for the six months ended June 30, 2014 increased by $20,096 to $74,664 as compared to $54,572 for the six months ended June 30, 2013. Compensation expenses were $-0- for the 6 months end June 30, 2014 and $47,872 for the six month end June 30, 2013

 

OPERATING RESULTS INTEREST EXPENSES

 

Interest expense for the three months ended June 30, 2014 increased $2,870 to $28,897 as compared to $26,027 for the prior year three month period.

 

Interest expense for the six months ended June 30, 2014 increased $5,316 to $56,503 as compared to $51,187 for the prior year six month period for loans due to shareholders.

 

10
 

 

LIQUIDITY

 

As of June 30, 2014, the Company had assets of $9,851 of which $351 was cash in the bank and $9,500 a loan receivable to Mark Andersen . The Company had total liabilities of $1,553,975, of which $1,541,475 is owed to three shareholders.

 

Plan of Operation

 

As stated in NOTE 7 – MERGER EVENT, The new plan of the Company is to pursue operations in the business of online socialization through its wholly-owned subsidiary VPartments, a social commerce platform that will endeavor to derive its revenue from several streams within its social community.  As our website and mobile application ramp up membership numbers, we expect that a number of brands will want to make a meaningful connection with those members.  Brands will generally be charged monthly rates for advertising in our 3D virtual community; with methods ranging from commercials (placed between video content pieces on the video screens within the 3D space), to sponsorships (such as a travel-related brands having their logo & tag line attached to the travel log pop-up within the 3D space), and on to product placements (for a variety of consumer brands to place 3D representations of their products throughout the virtual space – i.e. furnishings, appliances, consumables, etc.).

 

We will require an as-yet-undetermined amount of additional capital in order to accelerate VPartments’ growth.  We expect such capital to be obtained through debt and/or equity financings, but do not currently have any commitments in this regard.  Apart from such cash requirements, the Company will continue to incur expenses relating to maintenance of the Company in good standing, filing required reports with the Commission and other regulatory agencies. The Company believes that such additional maintenance expenses will be advanced by management or principal stockholders as loans to the Company. However, there can be no assurance that the management or stockholders will continue to advance operating funds to the Company.

 

11
 

 

Item 3. Quantitative and Qualitative Disclosures About Market Risk

 

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

 

Item 4. Controls and Procedures

 

Evaluation of Disclosure Controls and Procedures

 

We maintain disclosure controls and procedures that are designed to ensure that information we are required to disclose in the reports that we file or submit under the Securities Exchange Act of 1934 (the “Exchange Act”), such as this Quarterly Report on Form 10-Q, is recorded, processed, summarized and reported within the time periods specified by SEC rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information we are required to disclose in the reports that we file or submit under the Exchange Act is accumulated and communicated to our management to allow timely decisions regarding required disclosure.

 

Our management evaluated the effectiveness of our disclosure controls and procedures as of June 30, 2014, pursuant to paragraph (b) of Rules 13a-15 and 15d-15 under the Exchange Act. This evaluation included a review of the controls’ objectives and design, the operation of the controls, and the effect of the controls on the information presented in this Quarterly Report. Our management has concluded that our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) were not effective as of June 30, 2014.

 

Changes in Internal Control over Financial Reporting

 

There was no change in the Company’s internal control over financial reporting during the Company’s most recently completed fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

 

12
 

 

PART II – OTHER INFORMATION

 

Item 1. Legal Proceedings

 

The Company is not a party to any pending legal action.

 

Item 1A. Risk Factors

 

Not applicable to smaller reporting companies.

 

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

 

The Company has not issued or sold any unregistered securities during the three months period ended June 30, 2014.

 

Item 3. Defaults Upon Senior Securities

 

None

 

Item 4. Mine Safety Disclosures

 

Item 5. Other Information

 

Robert G. Berry; Jon T. Jenkins - Promissory Notes

 

On. January 1, 2014 the Company executed a promissory note in the principal amount of $1,006,440. The note is payable to Robert G. Berry, bears interest at the rate of 8% per annum and is payable on demand. If no demand is made, the entire principal amount and accrued interest on the note will be due and payable on March 1, 2015. As of June 30, 2014 the Company owes Robert G. Berry $1,046,763. On January 1, 2014 the Company also executed in favor of Jon T. Jenkins a promissory note in the principal amount of $393,012. This note also bears interest at 8% per annum, is payable on demand, and is due and payable on March 1, 2015, if demand is not made before that date. As of June 30, 2014 the Company owes Jon T. Jenkins $410,923. Each of these notes memorializes amounts that Messrs. Berry and Jenkins have advanced on the Company’s behalf for the past several years. In addition the Company executed a promissory note on July 1, 2014 payable to Robert G. Berry in the principal amount of $40,854. for merger expenses. The note bears interest at 8% per annum and is payable on demand. If no demand then the entire unpaid balance and accrued interest is due and payable on or before March 1, 2015. A second promissory note for merger expenses was executed by the Company in favor of Jon T. Jenkins in the principal amount of $40,920. on July 1, 2014. The note bears interest at 8% per annum and is payable on demand. If no demand then the entire unpaid balance and accrued interest is due and payable on or before March 1, 2015.

 

13
 

 

Item 6. Exhibits

 

Exhibit Number   Name of Exhibit
     
31.1   Certification of Chief Executive Officer, pursuant to Rule 13a-14(a) of the Exchange Act, as enacted by Section 302 of the Sarbanes-Oxley Act of 2002.
     
31.2   Certification of Chief Financial Officer, pursuant to Rule 13a-14(a) of the Exchange Act, as enacted by Section 302 of the Sarbanes-Oxley Act of 2002.
     
32.1   Certification of Chief Executive Officer and Chief Financial Officer, pursuant to 18 United States Code Section 1350, as enacted by Section 906 of the Sarbanes-Oxley Act of 2002.
     
101.INS   XBRL Instance Document
101.SCH   XBRL Schema Document
101.CAL   XBRL Calculation Linkbase Document
101.DEF   XBRL Definition Linkbase Document
101.LAB   XBRL Labels Linkbase Document
101.PRE   XBRL Presentation Linkbase Document

 

 

 

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SIGNATURES

  

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized.


   GAMEPLAN, INC.
    

Date:

August 13, 2014

 

/s/ Robert G. Berry

 

 

 

Robert G. Berry

President, Chief Financial Officer and Director

 

 

 

 

 

 

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