SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2021

NOTE 15 - SUBSEQUENT EVENTS

In accordance with ASC Topic 855, “Subsequent Events”, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before this audited financial statements are issued, the Company has evaluated all events or transactions that occurred after December 31, 2021, up through the date was the Company issued the audited consolidated financial statements.

Subsequent to December 31, 2021, the following transactions occurred:

	·	The Company issued 73,050,000 shares for conversion of debt of $242,581.

	·	The Company issued convertible notes a total of $112,500, which the term of notes is 1 year and annual interest rate is 8%. Notes are convertible at the option of the holders after 6 months of issuance date of the note and conversion price are Conversion prices are based on the discounted (35% discount) lowest trading prices of the Company’s shares during 10 periods prior to conversion. Certain note has a floor price of $0.01.

Phoenix Rising Companies 10-K/A