11. Subsequent Events

2019 Private Placement

In July 2019, we commenced a private placement of 7,000,000 units of our securities, at a price of $1.00 per unit. Each unit consists of one share of our common stock and a common stock purchase warrant to purchase one-half share of our common stock, over a two year period, at an exercise price of $1.25 per share. As of the date of this report, gross proceeds of $4,882,916 have been received.  The offering was conducted by our management and no commission or other selling fees were paid by us.  One director of the company participated in this private placement as described in Note 10.

On July 26, 2019, Livelenz, entered into an amendment of their original loan agreement dated August 26, 2011 with the Business Development Bank of Canada (“BDC”). Under this agreement the loan will mature, and the commitments will terminate on October 15, 2021.