Item 3.02 Unregistered Sales of Equity Securities.
On February 22, 2021, Viva Entertainment Group, inc. (the "Registrant") issued a
total of 40,000,000 shares of common stock to Bellridge Capital LP ("Bellridge")
for the conversion of a note payable from March 22, 2019 in the amount of
$60,000, together with accrued interest and penalties totaling $23,159.52 for a
total value of $83,159.52. In connection with this issuance, Bellridge agreed to
satisfy all other remaining outstanding obligations of Viva Entertainment for
the payment of $1.00. These additional obligations consisted of notes payable
for $60,000 dated May 6, 2019, $45,000 dated June 5, 2019, and $45,000 dated
June 14, 2019, for a combined satisfaction agreement of $233,159.52, exclusive
of penalties and accrued interest associated with these obligations which were
included in the final share conversion.
On February 18, 2021, the Registrant agreed to issue a total of 41,589,600,
shares of common stock to Greentree Financial Group, Inc. for the conversion of
all its note payable balances, of which 16,589,600 shares have been issued. The
balance of 25,000,000 shares will be issued within the next 30 days and will
fully satisfy the notes payable date June 18, 2018 in the amount of $91,474, the
note payable from August 31, 2018 having a balance of $99,624, the note payable
dated November 16, 2018 in the amount of $340,328, and the note payable from
November 8, 2018 in the amount of $86,668, together with all penalties and
accrued interest associated with these obligations which have been included in
the final share conversion.
On February 17, 2021, Registrant issued to BHP Capital a total of 19,938,462
shares of common stock, and a commitment to issue and additional 20,000,000 at a
date to be determined, on the conversion of a note payable from March 19, 2019
in the amount of $30,900 together with accrued interest and penalties totaling
$21,600 for a total value of $52,500. In connection with this issuance, BHP
Capital agreed to satisfy all other remaining outstanding obligations of Viva
Entertainment for the payment of $1.00. These additional obligations consisted
of notes payable for $41,111 dated August 28, 2019, $34,650 dated November 5,
2019, $34,650 dated August 2, 2019 Note, and $30,000 dated December 19, 2017
which was purchased by BHP from Ignition Capital on May 30, 2019. Combined,
these notes represent a satisfaction of $192,911, exclusive of penalties and
accrued interest associated with these obligations which were included in the
final share conversion.
When viewed collectively, the three transactions resulted in the elimination of
over $1,044,164.92 in past due convertible debt obligations plus substantial
accrued interest and penalties.
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