Item 1.03 Bankruptcy or Receivership

Effective, November 4, 2020, the Company formally entered into the Chapter 11 reorganization. The Company has retained the law firm of Chad van Horm, in Fort Lauderdale, Florida.

The Company has arranged certain pre-arranged Chapter 11 financing to allow the Company to emerge post Chapter 11 with a viable new business model.

The current preferred shareholder, Mina Mar Group, has assigned 33.3 % of its controlling interest to Intersection Capital LLC in exchange for a one-time cash payment of $75,000 with an outlook to acquire the remaining 66.7% of the preferred shares in concert with the Company's successful exit from the Chapter 11 bankruptcy protection and other non related matters.

The Company has commenced with certain legal and accounting procedural steps to return to being an SEC reporting entity.

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