PCS Edventures!, Inc. 10-Q

Item 1. Legal Proceedings. October 13, 2015, PCS filed a Summons and Complaint against Ty Jacobsen (Ada County Case No. CV OC 1517581) in the Idaho Fourth Judicial District Court. The parties to the suit are PCS Edventures!,com Inc., plaintiff, v. Ty Jacobsen d/b/a Jacobsen Enterprises, defendant. Our claims primarily involve defamation, breach of contract and injunctive relief. Through the Complaint, PCS alleges Jacobsen violated the terms of his Consulting Agreement, which included a non-disparagement agreement, by publishing false and defamatory material in a Facebook forum and on his Twitter feed, along with making defamatory statements to other PCS investors or potential investors. Through the Complaint, PCS seeks both injunctive relief enjoining Jacobsen from further defamation, and damages for previous defamatory statements and violation of the Consulting Agreement. Item 2. Recent Sale of Unregistered Securities. Security issuances occurred during the quarter ended December 31, 2015. Name of Person or Group Shares Consideration *Consultants 198,000 $ 26,440 *Board of Directors 692,300 97,845 890,300 $ 124,285 * Issued as “Restricted Securities” under our 2009 Equity Incentive Plan; the shares issuable thereunder are registered on Form S-8 of the SEC. Item 3. Defaults Upon Senior Securities. None; not applicable. Item 4. Mine Safety Disclosures None; not applicable.