UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-Q

[X]
QUARTERLY REPORT UNDER TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED FEBRUARY 28, 2015
OR
[   ]
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number 000-53346
 
NET SAVINGS LINK, INC.
(Exact name of registrant as specified in its charter)
 
Nevada
(State of incorporation)
 
4747-20 Nesconset Highway
Port Jefferson, NY   11776
(Address of principal executive offices)
 
(516) 246-6435
(Registrant's telephone number)

Indicate by check mark whether the issuer (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the last 90 days.   YES [X]     NO [   ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (SS 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).   YES [   ]     NO [X]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See the definitions of "large accelerated filer," "accelerated filer," "non-accelerated filer," and "smaller reporting company" in Rule 12b-2 of the Exchange Act. (Check one):

Large Accelerated Filer
[   ]
Accelerated Filer
[   ]
Non-accelerated Filer (Do not check if smaller reporting company)
[   ]
Smaller Reporting Company
[X]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
YES [   ]     NO [X]

APPLICABLE ONLY TO CORPORATE ISSUERS:

As of April 17, 2015, there were 2,832,837,408 shares of the registrant's $0.001 par value common stock issued and outstanding.
 



Table of Contents


TABLE OF CONTENTS  
Page
   
 
  
 
FINANCIAL STATEMENTS
3
     
 
3
 
4
 
5
 
6
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
9
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.
11
CONTROLS AND PROCEDURES.
11
  
 
 
  
 
RISK FACTORS.
12
     
UNREGISTERED SALE OF EQUITY SECURITIES.
12
     
OTHER INFORMATION.
12
     
EXHIBITS.
13
     
14
   
15


Special Note Regarding Forward-Looking Statements

Information included in this Form 10-Q contains forward-looking statements that may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Net Savings Link, Inc. (the "Company"), to be materially different from future results, performance or achievements expressed or implied by any forward-looking statements. Forward-looking statements, which involve assumptions and describe future plans, strategies and expectations of the Company, are generally identifiable by use of the words "may," "will," "should," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. These forward-looking statements are based on assumptions that may be incorrect, and there can be no assurance that these projections included in these forward-looking statements will come to pass. Actual results of the Company could differ materially from those expressed or implied by the forward-looking statements as a result of various factors. Except as required by applicable laws, the Company has no obligation to update publicly any forward-looking statements for any reason, even if new information becomes available or other events occur in the future.

*Please note that throughout this Quarterly Report, except as otherwise indicated by the context, references in this report to "Company", "we", "us" and "our" are references to Net Savings Link, Inc. 

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Table of Contents

PART I - FINANCIAL INFORMATION

ITEM 1.          FINANCIAL STATEMENTS.

NET SAVINGS LINK, INC. AND SUBSIDIARY
Consolidated Balance Sheets
(Unaudited)


   
February 28,
2015
   
November 30,
2014
 
ASSETS
       
         
Current assets
       
Cash
 
$
72,425
   
$
9,756
 
Other current assets
   
7,675
     
3,249
 
                 
Total Current Assets
   
80,100
     
13,005
 
                 
TOTAL ASSETS
 
$
80,100
   
$
13,005
 
                 
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
               
                 
Current Liabilities:
               
Accounts payable and accrued liabilities
 
$
143,733
   
$
103,455
 
Derivative liabilities
   
177,735
     
390,020
 
Note payable, related party
   
2,000
     
2,000
 
Convertible notes payable, net of debt discount of $40,556 and $23,900,
respectively
   
192,694
     
157,020
 
                 
Total Current Liabilities
   
516,162
     
652,495
 
                 
STOCKHOLDERS' EQUITY(DEFICIT)
               
Series A Preferred Stock, $0.0001 par value, 1000,000,000 shares
authorized, 1,500,000 shares issued and outstanding
   
15
     
15
 
Common stock, $0.001 par value, 1,000,000,000 shares authorized,
2,615,087,408 and 1,593,677,408 shares issued and outstanding
   
2,615,088
     
1,593,678
 
Additional paid-in capital
   
(2,053,318
)
   
(1,279,643
)
Accumulated deficit
   
(997,847
)
   
(953,540
)
                 
Total Stockholders' Equity (deficit)
   
(436,062
)
   
(639,490
)
                 
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
 
$
80,100
   
$
13,005
 




The accompanying notes are an integral part of these unaudited consolidated financial statements.
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NET SAVINGS LINK, INC. AND SUBSIDIARY
Consolidated Statements of Operations
(Unaudited)


   
For the Three
Months Ended
February 28,
2015
 
     
REVENUES
 
$
-
 
         
OPERATING EXPENSES
       
         
General and administrative expense
   
70,569
 
Total Operating Expenses
   
70,569
 
         
OPERATING LOSS
   
(70,569
)
         
OTHER INCOME (EXPENSE)
       
         
Gain (loss) on derivative
   
124,236
 
Interest expense
   
(97,974
)
Total Other Income (Expense)
   
26,262
 
 
       
NET LOSS
 
$
(44,307
)
BASIC AND DILUTIVE NET LOSS PER COMMON SHARE
 
$
(0.00
)
BASIC AND DILUTIVE WEIGHTED AVERAGE NUMBER OF SHARES
OUTSTANDING
   
2,026,627,408
 


















The accompanying notes are an integral part of these unaudited consolidated financial statements.
-4-
Table of Contents

NET SAVINGS LINK, INC. AND SUBSIDIARY
Consolidated Statements of Cash Flows
(Unaudited)

   
For the Three
Months Ended
February 28,
 
   
2015
 
     
CASH FLOWS FROM OPERATING ACTIVITIES
   
     
Net loss
 
$
(44,307
)
Items to reconcile net loss to net cash used in operating activities:
       
Debt discount amortization
   
89,344
 
Debt offering cost amortization
   
4,574
 
Gain on derivative
   
(124,236
)
Changes in operating assets and liabilities
       
Increase in other assets
       
Increase in accounts payable and accrued liabilities
   
42,294
 
Net Cash Used in Operating Activities
   
(32,331
)
         
CASH FLOWS FROM FINANCING ACTIVITIES
       
         
Proceeds from convertible notes payable
   
104,000
 
Cash paid for debt offering costs
   
(9,000
)
Net Cash Provided by Financing Activities
   
95,000
 
         
INCREASE IN CASH
   
62,669
 
         
CASH AT BEGINNING OF PERIOD
   
9,756
 
         
CASH AT END OF PERIOD
 
$
72,425
 
         
CASH PAID FOR:
       
Interest
 
$
-
 
Income taxes
 
$
-
 
         
NON-CASH FINANCING ACTIVITIES:
       
         
Common stock issued for convertible notes and accrued interest
 
$
53,686
 
Discount on convertible notes payable from derivative instrument
 
$
106,000
 
Settlement of derivative liability to additional paid-in capital
 
$
194,049
 





The accompanying notes are an integral part of these unaudited consolidated financial statements.
-5-
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NET SAVINGS LINK, INC. AND SUBSIDIARY
Notes to the Unaudited Consolidated Financial Statements


1.
Nature of Operations and Continuance of Business

The unaudited interim consolidated financial statements included herein have been prepared by Net Savings Link, Inc. and its wholly owned subsidiary Global Distribution Network, Inc. (collectively, "NSL" or the "Company") in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission. We believe that all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein and that the disclosures made are adequate to make the information not misleading.  The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year.  Notes to the consolidated financial statements which would substantially duplicate the disclosure contained in the audited financial statements as would be required to be reported in Form 10-K have been omitted.

2.      Going Concern

NSL's financial statements are prepared using Generally Accepted Accounting Principles applicable to a going concern that contemplates the realization of assets and liquidation of liabilities in the normal course of business.  However, NSL has generated minimal revenue and accumulated significant losses since inception. As of February 28, 2015, company has accumulated deficit of $997,847 and a working capital deficit of $436,062. All of these items raise substantial doubt about its ability to continue as a going concern.  Management's plans with respect to alleviating the adverse financial conditions that caused management to express substantial doubt about the NSL's ability to continue as a going concern are as follows:

In order to fund the start-up of operations during the year ended November 30, 2014, NSL entered into several financing transactions and continues to try to raise funds in 2015. The continuation of NSL as a going concern is dependent upon its ability to generating profitable operations that produce positive cash flows.  If NSL is not successful, it may be forced to raise additional debt or equity financing.

There can be no assurance that NSL will be able to achieve its business plans, raise any more required capital or secure the financing necessary to achieve its current operating plan.  The ability of NSL to continue as a going concern is dependent upon its ability to successfully accomplish the plan described in the preceding paragraph and eventually attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

3.      Convertible Promissory Notes Payable

During the period ended February 28, 2015, the holder of two Convertible Promissory Notes elected to convert a total of $51,670 in principal and $2,016 in interest into 1,021,410,000 shares of the Company's common stock at conversion prices of between $0.00003 to $0.00012 per share.

During December 2014, NSL issued an Unsecured Convertible Promissory Note for $104,000 (the "December 2014 Convertible Promissory Note").  The December 2014 Convertible Promissory Note is unsecured, due approximately nine months from the date of issuance, accrues interest at 8% per annum and is convertible into shares of NSL's common stock at any time at the option of the holder.  The December 2014 Convertible Promissory Note is convertible at a discount from market of 55% of the average of the three lowest bid prices during the fifteen trading days prior to the conversion date.
-6-

4.      Derivative Liabilities

NSL analyzed the conversion options embedded in the Convertible Promissory Notes for derivative accounting consideration under ASC 815, Derivatives and Hedging , and determined that the instruments embedded in the above referenced convertible promissory notes should be classified as liabilities and recorded at fair value due to their being no explicit limit to the number of shares to be delivered upon settlement of the conversion options. Additionally, the above referenced convertible promissory notes contain dilutive issuance clauses.  Under these clauses, based on future issuances of NSL's common stock or other convertible instruments, the conversion price of the above referenced convertible promissory notes can be adjusted downward. Because the number of shares to be issued upon settlement of the above referenced convertible promissory notes cannot be determined under this instrument, NSL cannot determine whether it will have sufficient authorized shares at a given date to settle any other future share instruments. 

During the period ended February 28, 2015, two Convertible Promissory Notes became convertible into shares of the Company's common stock. The fair value of the conversion options was determined to be $267,374 using a Black-Scholes option-pricing model.  Upon the date the Convertible Promissory Notes became convertible, $106,000 was recorded as debt discount and $161,374 was recorded as day one loss on derivative liability.  

During the period ended February 28, 2015, $53,686 in principal and accrued interest on Convertible Promissory Notes was converted into common stock, $194,049 in related derivative liability was extinguished through a charge to paid-in capital and $124,236 was recorded as a net gain on mark-to-market of the conversion options and warrants.

The following table summarizes the derivative liabilities included in the balance sheet at February 28, 2015:

Derivative liabilities November 30, 2014
 
$
390,020
 
Day one loss due to convertible debt
   
161,373
 
Debt discount
   
106,000
 
Reclassification of derivative liability to additional paid-in capital due to
promissory note conversions
   
(194,049
)
Gains on change in fair value
   
(285,609
)
Balance at February 28, 2015
 
$
177,735
 

The following table summarizes the loss on derivative liabilities included in the income statement for the period ended February 28, 2015:

Day one loss due to convertible debt
 
$
(161,373
)
Gains on change in fair value
   
285,609
 
Gain on derivative liabilities
 
$
124,236
 

NSL valued its derivatives liabilities using the Black-Scholes option-pricing model.  Assumptions used during the period ended February 28, 2015 include (1) risk-free interest rates between 0.02% to 1.51%, (2) lives of between 0 and 4.26 years, (3) expected volatility of between 421% to 925%, (4) zero expected dividends, (5) conversion prices as set forth in the related instruments, and (6) the common stock price of the underlying share on the valuation dates.

5.      Common Stock

During the three months ended February 28, 2015, the Company issued 1,021,410,000 shares of common stock for $51,670 of convertible debt and $2,016 of accrued interest, or $0.0001 per share.
-7-

6.      Financial Instruments

ASC 820, Fair Value Measurements (ASC 820) and ASC 825, Financial Instruments (ASC 825) , requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. It establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument's categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. It prioritizes the inputs into three levels that may be used to measure fair value:

Level 1 - Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level 2 - Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.

Level 3 - Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

NSL's financial instruments consist principally of cash, accounts payable, and accrued liabilities. Pursuant to ASC 820 and 825, the fair value of cash is determined based on "Level 1" inputs, which consist of quoted prices in active markets for identical assets. The recorded values of all other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations.

The following table sets forth by level with the fair value hierarchy the Company's financial assets and liabilities measured at fair value on February 28, 2015:

 
Level 1
 
Level 2
 
Level 3
 
Total
 
Assets
       
None
 
$
-
   
$
-
   
$
-
   
$
-
 
Liabilities
                               
Derivative financial instruments
 
$
-
   
$
-
   
$
177,735
   
$
177,735
 

7.      Subsequent Events

During March 2015, the Company issued 207,750,000 shares of common stock for $7,250 of debt and $1,060 of accrued interest, or $0.00004 per share.

During March 2015, the Company issued its Chief Executive Officer 1,000,000 shares of Series A preferred stock for accrued wages of $67,000 and repayment of a short-term loan of $2,000.

During April 2015, the Company entered into an employment agreement with it Vice President of Operations.  The employment agreement provides for an annual salary of $79,000 per year, participation in future stock incentive programs, 1,750,000 share of the Company's Series A preferred stock and the issuance of 10,000,000 shares of the Company's common stock.



-8-

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

FORWARD-LOOKING STATEMENTS

This Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A) contains forward-looking statements that involve known and unknown risks, significant uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed, or implied, by those forward-looking statements.  You can identify forward-looking statements by the use of the words may, will, should, could, expects, plans, anticipates, believes, estimates, predicts, intends, potential, proposed, or continue or the negative of those terms.  These statements are only predictions. In evaluating these statements, you should consider various factors which may cause our actual results to differ materially from any forward-looking statements.  Although we believe that the exceptions reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements.  Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements.  We undertake no obligation to revise or update publicly any forward-looking statements for any reason.

RESULTS OF OPERATIONS

Working Capital

 
 
February 28,
   
November 30,
 
 
 
2015
   
2014
 
Current Assets
 
$
80,100
   
$
13,005
 
Current Liabilities
   
516,162
     
652,495
 
Working Capital (Deficit)
 
$
436,062
   
$
(639,490
)

Cash Flows

 
 
For the Three
Months Ended
February, 2015
 
Cash Flows Used in Operating Activities
 
$
(32,331
)
Cash Flows Provided by Financing Activities
   
95,000
 
Net Increase in Cash During Period
 
$
72,425
 

Balance Sheet

As at February 28, 2015, the Company had total assets of $80,100.  The assets are mainly comprised of prepaid expenses and cash balances in the Company's bank account.

The Company had total liabilities of $516,162 at February 28, 2015.  The liabilities are comprised of $177,735 in derivative liabilities, $192,694 in convertible promissory notes payable, $2,000 in notes payable to a related party and $143,733 in accounts payable and accrued expenses.

Conversion of Notes to Shares of Common Stock

We have convertible promissory notes outstanding, the holder of which is Asher Enterprises, Inc., a New York Corporation.  Under the terms of the promissory notes, Asher may convert the amount owed to it to shares of common stock.  During the first quarter (December 1, 2014 to February 28, 2015) and the first month of the second quarter, Asher converted debt to shares of common stock (equity) as follows:
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Table of Contents

Note dated June 2, 2014, as amended June 11, 2014, in the principal amount of $21,500.00.  After the following conversions occurred, we owe $860.00 in interest which may be converted to common stock.

Date
   
Conversion Amount
   
Shares of Common Stock
 
 
1-23-2015
   
$
1,950.00
     
48,750,000
 
 
1-28-2015
   
$
3,680.00
     
92,000,000
 
 
2-9-2015
   
$
4,540.00
     
113,500,000
 
 
2-11-2015
   
$
4,540.00
     
113,500,000
 
 
2-19-2015
   
$
4,540.00
     
113,500,000
 
 
3-17-2015
   
$
2,250.00
     
77,500,000
 

Note dated April 17, 2014 in the principal amount of $5,000.00.  After the following conversions occurred, we owe $200.00 in interest which may be converted to common stock.

Date
   
Conversion Amount
   
Shares of Common Stock
 
 
3-26-2015
   
$
5,000.00
     
130,000,000
 

Operating Revenues

The Company received $0 in revenue during the period ended February 28, 2015.

Operating Expenses

During the period ended February 28, 2015, the Company incurred operating expenses totaling $70,569, comprised of general and administrative expenses.

Net Loss

During the period ended February 28, 2015, the Company realized net loss of $44,307, comprised of $70,569 of operating expenses, $97,974 in interest expense and a gain of $124,236 on derivative.

Liquidity and Capital Resources

As at February 28, 2015, the Company had a cash balance of $72,425, total assets of $80,100, total liabilities of $516,162, and a working capital deficit of $436,062.

Cash Flows from Operating Activities

During the period ended February 28, 2015, the Company used $32,331 of cash flow from operating activities, mainly due to the $44,307 net loss during the period ended February 28, 2015.

Cash Flows from Investing Activity

The Company did not have any investing activities during the period ended February 28, 2015.

Cash Flows from Financing Activities

During the period ended February 28, 2015, the Company received proceeds of $104,000 from a convertible promissory note, which is unsecured, convertible into the common stock of the Company, due interest at 8% per annum and matures approximately nine months from the dates of issuance.


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Going Concern

We have not attained profitable operations and are dependent upon obtaining financing to pursue any extensive acquisitions and activities. For these reasons, our auditors stated in their report on our audited financial statements that they have substantial doubt that we will be able to continue as a going concern without further financing. 

Off-Balance Sheet Arrangements

We have no significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to stockholders.

Future Financings

We will continue to rely on equity sales of our common shares in order to continue to fund our business operations. Issuances of additional shares will result in dilution to existing stockholders. There is no assurance that we will achieve any additional sales of the equity securities or arrange for debt or other financing to fund planned acquisitions and exploration activities.

Employment Agreement

On April 5, 2015, we entered into an employment agreement with David M. Pecoraro ("Pecoraro") employing Pecoraro as Vice President of Operations.  Mr. Pecoraro has no previous experience functioning as an executive officer of a public company.  Pecoraro will be paid a salary of $79,000.00 per year plus compensation for overtime hours.  Overtime hours means the total hours worked in a day or week in excess of the maximum allowed, as defined by local statute, for a work day or work week. 

ITEM 3.          QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

ITEM 4.          CONTROLS AND PROCEDURES.

Under the supervision and with the participation of our management, including the Principal Executive Officer and Principal Financial Officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as of the end of the period covered by this report. Based on that evaluation, the Principal Executive Officer and Principal Financial Officer have concluded that these disclosure controls and procedures are not effective because procedures were not in place to provide for timely, complete, accurate reporting of events.  The foregoing was a result of our president's lack of experience with his reporting and disclosure obligations, lack of proper segregation of duties due to limited personnel, and a lack of formal review process that includes multiple levels of review, resulting in audit adjustments related to the derivative liability account, accounting of the Company's convertible debt instruments and conversions and bad debt.  Our president is committed to educating himself through the seminars and consulting with attorneys to become fully knowledgeable with his obligations. In addition, currently there are no written policies or procedures that clearly define the roles in the disclosure and reporting process.  

There were no changes in our internal control over financial reporting during the quarter ended February 28, 2015 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II - OTHER INFORMATION

I TEM 1A.    RISK FACTORS.

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

ITEM 2.          UNREGISTERED SALE OF EQUITY SECURITIES.

We have convertible promissory notes outstanding, the holder of which is Asher Enterprises, Inc., a New York Corporation.  Under the terms of the promissory notes, Asher may convert the amount owed to it to shares of common stock.  During the first quarter (December 1, 2014 to February 28, 2015) and the first month of the second quarter, Asher converted debt to shares of common stock (equity) as follows:

Note dated June 2, 2014, as amended June 11, 2014, in the principal amount of $21,500.00.  After the following conversions occurred, we owe $860.00 in interest which may be converted to common stock.

Date
   
Conversion Amount
   
Shares of Common Stock
 
 
1-23-2015
   
$
1,950.00
     
48,750,000
 
 
1-28-2015
   
$
3,680.00
     
92,000,000
 
 
2-9-2015
   
$
4,540.00
     
113,500,000
 
 
2-11-2015
   
$
4,540.00
     
113,500,000
 
 
2-19-2015
   
$
4,540.00
     
113,500,000
 
 
3-17-2015
   
$
2,250.00
     
77,500,000
 

Note dated April 17, 2014 in the principal amount of $5,000.00.   After the following conversions occurred, we owe $200.00 in interest which may be converted to common stock.

Date
   
Conversion Amount
   
Shares of Common Stock
 
 
3-26-2015
   
$
5,000.00
     
130,000,000
 

The foregoing unregistered sale of securities was made pursuant to Section (4)(a)(2) of the Securities Act of 1933, as amended in that the transaction did not involve a public offering.

ITEM 5.          OTHER INFORMATION.

     We have convertible promissory notes outstanding, the holder of which is Asher Enterprises, Inc., a New York Corporation.  Under the terms of the promissory notes, Asher may convert the amount owed to it to shares of common stock.  During the first quarter (December 1, 2014 to February 28, 2015) and the first month of the second quarter, Asher converted debt to shares of common stock (equity) as follows:

Note dated June 2, 2014, as amended June 11, 2014, in the principal amount of $21,500.00.  After the following conversions occurred, we owe $860.00 in interest which may be converted to common stock.

Date
   
Conversion Amount
   
Shares of Common Stock
 
 
1-23-2015
   
$
1,950.00
     
48,750,000
 
 
1-28-2015
   
$
3,680.00
     
92,000,000
 
 
2-9-2015
   
$
4,540.00
     
113,500,000
 
 
2-11-2015
   
$
4,540.00
     
113,500,000
 
 
2-19-2015
   
$
4,540.00
     
113,500,000
 
 
3-17-2015
   
$
2,250.00
     
77,500,000
 

-12-
Table of Contents

Note dated April 17, 2014 in the principal amount of $5,000.00.  After the following conversions occurred, we owe $200.00 in interest which may be converted to common stock. 

Date
   
Conversion Amount
   
Shares of Common Stock
 
 
3-26-2015
   
$
5,000.00
     
130,000,000
 

The foregoing unregistered sale of securities was made pursuant to Section (4)(a)(2) of the Securities Act of 1933, as amended in that the transaction did not involve a public offering.

We failed to file Form 8-K in connection with the foregoing transactions.

ITEM 6.          EXHIBITS.

 
 
Incorporated by reference
Filed
Exhibit
Document Description
Form
Date
Number
herewith
 
 
       
3.1
Articles of Incorporation.
S-1
6/09/08
3.1
 
 
 
       
3.2
Bylaws.
S-1
6/09/08
3.2
 
 
 
       
3.3
Amended Articles of Incorporation.
8-K
8/06/12
3.1
 
 
 
       
4.1
Specimen Stock Certificate.
S-1
6/09/08
4.1
 
 
 
       
10.1
Equity Purchase Agreement with Southridge Partners II, LP.
10-Q
4/23/12
10.3
 
 
 
       
10.2
Employment Agreement – David M. Pecoraro.
   
10.1
X
           
14.1
Code of Ethics.
S-1
6/09/08
14.1
 
 
 
       
31.1
Certification of Principal Executive Officer and Principal
Financial Officer pursuant to Section 302 of the Sarbanes-
Oxley Act of 2002.
     
X
 
 
       
32.1
Certification of Chief Executive Officer and Chief Financial
Officer pursuant to Section 906 of the Sarbanes-Oxley Act of
2002.
     
X
 
 
       
99.1
Certificate of Designation.
8-K
8/06/12
99.1
 
 
 
       
101.INS
XBRL Instance Document.
       
 
 
       
101.SCH
XBRL Taxonomy Extension – Schema.
       
 
 
       
101.CAL
XBRL Taxonomy Extension – Calculations.
       
 
 
       
101.DEF
XBRL Taxonomy Extension – Definitions.
       
 
 
       
101.LAB
XBRL Taxonomy Extension – Labels.
       
 
 
       
101.PRE
XBRL Taxonomy Extension – Presentation.
       
-13-
Table of Contents


SIGNATURES

Pursuant to the requirements of the Securities Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized on this 20 th day of April, 2015.

 
NET SAVINGS LINK INC.
 
(the "Registrant")
     
 
BY:
STEVEN BARITZ
   
Steven Baritz
   
President, Principal Executive Officer,
Principal Accounting Officer and a member
of the Board of Directors















-14-


EXHIBIT INDEX

 
 
Incorporated by reference
Filed
Exhibit
Document Description
Form
Date
Number
herewith
 
 
       
3.1
Articles of Incorporation.
S-1
6/09/08
3.1
 
 
 
       
3.2
Bylaws.
S-1
6/09/08
3.2
 
 
 
       
3.3
Amended Articles of Incorporation.
8-K
8/06/12
3.1
 
 
 
       
4.1
Specimen Stock Certificate.
S-1
6/09/08
4.1
 
 
 
       
10.1
Equity Purchase Agreement with Southridge Partners II, LP.
10-Q
4/23/12
10.3
 
 
 
       
10.2
Employment Agreement – David M. Pecoraro.
   
10.1
X
           
14.1
Code of Ethics.
S-1
6/09/08
14.1
 
 
 
       
31.1
Certification of Principal Executive Officer and Principal
Financial Officer pursuant to Section 302 of the Sarbanes-
Oxley Act of 2002.
     
X
 
 
       
32.1
Certification of Chief Executive Officer and Chief Financial
Officer pursuant to Section 906 of the Sarbanes-Oxley Act of
2002.
     
X
 
 
       
99.1
Certificate of Designation.
8-K
8/06/12
99.1
 
 
 
       
101.INS
XBRL Instance Document.
       
 
 
       
101.SCH
XBRL Taxonomy Extension – Schema.
       
 
 
       
101.CAL
XBRL Taxonomy Extension – Calculations.
       
 
 
       
101.DEF
XBRL Taxonomy Extension – Definitions.
       
 
 
       
101.LAB
XBRL Taxonomy Extension – Labels.
       
 
 
       
101.PRE
XBRL Taxonomy Extension – Presentation.
       




-15-
 
 
 
Exhibit 10.1

EMPLOYMENT CONTRACT

THIS EMPLOYMENT CONTRACT dated this 5th day of April, 2015

BETWEEN:


Net savings Link NSAV DBA Global Distribution of 4747- 20 Nesconset Highway Port Jefferson, NY
11776
(the "Employer")


OF THE FIRST PART


-AND-


David M. Pecoraro 234-08-9162 of 454 Harshberger Rd Ste 1 Johnstown Pa 15905
(the "Employee")


OF THE SECOND PART


BACKGROUND:

A. The Employer is of the opinion that the Employee has the necessary qualifications, experience and abilities to assist and benefit the Employer in its business.

B. The Employer desires to employ the Employee and the Employee has agreed to accept and enter such employment upon the terms and conditions set OUT IN this Agreement.

IN CONSIDERATION OF the matters described above and of the mutual benefits and obligations set forth in this Agreement, the receipt and sufficiency of which consideration is hereby acknowledged, the parties to this Agreement agree as follows:



Commencement Date and Term
1. The Employee will commence permanent full-time employment with the Employer on the 5th day of April, 2015 (the "Commencement Date").





Page 1 of 14
Employment Contract
Page 2 of 14



Job Title and Description
2. The Employer agrees to employ the Employee as a Vice President of Operations. The Employee will be expected to perform the following job duties:
The day to day functions of the company to involve Customer and investor relations.  Daily accounting and over-site of the the financials and budgeting for the company. New company acquisitions and contact between the subsidiaries. Funding and corporate filings and other duties as Steven Baritz deems for this important position.

3. The Employee agrees to be employed on the terms and ·conditions set out in this Agreement. The Employee agrees to be subject to the general supervision of and act pursuant to the orders, advice and direction of the Employer.

4. The Employee will perform any and all duties that are reasonable and that are customarily performed by a person holding a similar position in the industry or business of the Employer.

5. The Employer cannot unilaterally and significantly change the Employee1s job title or duties. The Employer may make changes to the job title or duties of the Employee where the changes would be considered reasonable for a similar position in the industry or business of the Employer. The Employee's job title or duties may be changed by agreement and with the approval of both the Employee and the Employer.

6. The Employee agrees to abide by the Employer's rules, regulations, and practices, including those concerning work schedules, vacation and sick leave, as they may from time to time be adopted or modified.


Employee Compensation
7. Compensation paid to the Employee for the services rendered by the Employee as required by this Agreement (the "Compensation") will consist of a salary of $79,000.00 (USD) per year plus any compensation paid for Overtime Hours plus a commission according to the following commission formula:

-
Stock and incentive programs that will be added as the function increase and voted on by the board.
Sign on bonus of 1.75 million preferred shares for the development of the business plan and an issuance of 10,000,000 NSAV shares of common stock from the closing of the IR Agreement signed in September 2014.





Employment Contract
Page 3 of 14




Annual Review for raises and contract signing.
Additional shares as the directors vote in board meeting for additional new companies.

8. This Compensation will be payable according to employer's policy while this Agreement is in force. The Employer is entitled to deduct from the Employee's Compensation, or from any other compensation in whatever form, any applicable deductions and remittances as required by law.

9. The Employee understands and agrees that any additional compensation paid to the Employee in the form of bonuses or other similar incentive compensation will rest in the sole discretion of the Employer and that the Employee will not earn or accrue any right to incentive compensation by reason of the Employee's employment.

10. In cases where Overtime Hours are worked in a period, the Employer may provide, and the Employee may take, wholly or in part, time off with pay instead of overtime pay, by mutual agreement between the parties, as and where permitted by law.

11. The Employer will reimburse the Employee for all reasonable expenses, in accordance with the Employer's policy as in effect from time to time, including but not limited to, any travel and entertainment expenses incurred by the Employee in connection with the business of the Employer. Expenses will be paid within a reasonable time after submission of acceptable supporting documentation.


Place of Work
12. The Employee's primary place of work will be at the following location:

-
454 Harshberger Rd Ste 1 Johnstown Pa 15905.

13. The Employee will also be required to work at the following place or places:

-
I will be able to travel to work at all companies facilities and subsidiaries as the company grows. We will discuss a vehicle and other compensation for travel account at a later date. I will mostly work in all 48 US states and occasional trips to Canada and overseas.

14. The Employer will inform the Employee in advance of the Employee being required to work at other locations.





Employment Contract
Page 4 of 14


 
Employee Benefits
15. The Employee will be entitled to only those additional benefits that are currently available as described in the Employer's employment booklets and manuals or as required by law.

16. Employer discretionary benefits are subject to change, without compensation, upon the Employer providing the Employee with 60 days written notice of that change and providing that any change to those benefits is taken generally with respect to other employees and does not single out the Employee.


Vacation
17. The Employee will be entitled to three weeks of paid vacation each year during the term of this Agreement, or as entitled by law, whichever is greater.

18. The times and dates for any vacation will be determined by mutual agreement between the Employer and the Employee.
 
S.B.
   
S. Baritz
 
D. Pecoraro
 
 
19. Upon termination of employment, the Employer will pay compensation to the Employee for any accrued and unused vacation days.  Maximum of 9 weeks.


Duty to Devote Full Time
20. The Employee agrees to devote full-time efforts, as an employee of the Employer, to the employment duties and obligations as described in this Agreement


Conflict of Interest
21. During the term of the Employee's active employment with the Employer, it is understood and agreed that any business opportunity relating to or similar to the Employer's actual or reasonably anticipated business opportunities (with the exception of personal investments in less than 5% of the equity of a business, investments in established family businesses, real estate, or investments in stocks and bonds traded on public stock exchanges) coming to the attention of the Employee, is an opportunity belonging to the Employer. Therefore, the Employee will advise the Employer of the opportunity and cannot pursue the opportunity, directly or indirectly, without the written consent of the Employer, which consent will not be unreasonably withheld.

22. During the term of the Employee's active employment with the Employer, the Employee will not, directly or indirectly, engage or participate in any other business activities that the Employer, in its reasonable discretion, determines to be in conflict with the best interests of the Employer




Employment Contract
Page 5 of 14



without the written consent of the Employer, which consent will not be unreasonably withheld.


Non-Competition
23. The Employee agrees that during the Employee's term of active employment with the Employer and for a period of three (3) years after the end of that term, the Employee will not, directly or indirectly, as employee, owner, sole proprietor, partner, director, member, consultant, agent, founder, co-venturer or otherwise, solely or jointly with others engage in any business that is in competition with the business of the Employer within any geographic area in which the Employer conducts its business, or give advice or lend credit, money or the Employee's reputation to any natural person or business entity engaged in a competing business in any geographic area in which the Employer conducts its business.


Non-Solicitation ·
24. The Employee understands and agrees that any attempt on the part of the Employee to induce other employees or contractors to leave the Employer's employ, or any effort by the Employee to interfere with the Employer's relationship with its other employees and contractors would be harmful and damaging to the Employer. The Employee agrees that during the Employee's term of employment with the Employer and for a period of five (5) years after the end of that term, the Employee will not in any way, directly or indirectly:

a. Induce or attempt to induce any employee or contractor of the Employer to quit employment or retainer with the Employer;

b. Otherwise interfere with or disrupt the Employer's relationship with its employees and contractors;

c. Discuss employment opportunities or provide information about competitive employment to any of the Employer's employees or contractors; or

d. Solicit, entice, r hire away any employee or contractor of the Employer for the purpose of an employment opportunity that is in competition with the Employer.

25. This non-solicitation obligation as described in this section will be limited to employees or contractors who were employees or contractors of the Employer during the period that the Employee was employed by the Employer.





Employment Contract
Page 6 of 14




26. During the term of the Employee's active employment with the Employer, and for five (5) years thereafter, the Employee will not divert or attempt to divert from the Employer any business the Employer had enjoyed, solicited, or attempted to solicit, from its customers, prior to termination or expiration, as the case may be, of the Employee's employment with the Employer.


Confidential Information
27. The Employee acknowledges that, in any position the Employee may hold, in and as a result of the Employee's employment by the Employer, the Employee will, or may, be making use of, acquiring or adding to information which is confidential to the Employer (the "Confidential Information") and the Confidential Information is the exclusive property of the Employer.

28. The Confidential-Information will include all data and information relating to the business and management of the Employer, including but not limited to, proprietary and trade secret technology and accounting records to which access is obtained by the Employee, including Work Product, Computer Software, Other Proprietary Data, Business Operations, Marketing and Development Operations, and Customer Information.

29. The Confidential Information will also include any information that has_ been disclosed by a third party to the Employer and is governed by a non-disclosure agreement entered into between that third party and the Employer.

30. The Confidential Information will not include information that:

a. Is generally known in the industry of the Employer;

b. Is now or Subsequently becomes generally available to the public through no wrongful act of the Employee;

c. Was rightfully in the possession of the Employee prior to the disclosure to the Employee by the Employer;

d. Is independently created by the Employee without direct or indirect use of the Confidential Information; or

e. The Employee rightfully obtains from a third party who has the right to transfer or disclose it.





Employment Contract
Page 7 of 14




31. The Confidential Information will also not include anything developed or produced by the Employee during the Employee's term of employment with the Employer, including but not limited to, any intellectual property, process, design, development, creation, research, invention, know-how, trade name, trade-mark or copyright that:

a. Was developed without the use of equipment, supplies, facility or Confidential Information of the Employer;

b. Was developed entirely on the Employee's own time;

c. Does not result from any work performed by the Employee for the Employer; and

d. Does not relate to any actual or reasonably anticipated business opportunity of the Employer.


Duties and Obligations Concerning Confidential Information
32. The Employee agrees that a material term of the Employee's contract with the Employer is to keep all Confidential Information absolutely confidential and protect its release from the public.
The Employee agrees not to divulge, reveal, report or use, for any purpose, any of the Confidential Information which the Employee has obtained or which was disclosed to the Employee by the Employer as a result of the Employee's employment by the Employer. The Employee agrees that if there is any question as to such disclosure then the Employee will seek out senior management of the Employer prior to making any disclosure of the Employer's information that may be covered by this Agreement.

33. The Employee agrees and acknowledges that the Confidential Information is of a proprietary and confidential nature and that any disclosure of the Confidential Information to a third party in breach of this Agreement cannot be reasonably or adequately compensated for in money damages, would cause irreparable injury to Employer, would gravely affect the effective and successful conduct of the Employer's business and goodwill, and would be a material breach of this Agreement.

34. The obligations to ensure and protect the confidentiality of the Confidential Information imposed on the Employee in this Agreement and any obligations to provide notice under this Agreement will survive the expiration or termination, as the case may be, of this Agreement and will continue for a period of five (5) years from the date of such expiration or termination.





Employment Contract
Page 8 of 14




35. The Employee may disclose any of the Confidential Information:

a. To a third party where Employer has consented in writing to such disclosure; and

b. To the extent required by law or by the request or requirement of any judicial, legislative, administrative or other governmental body.

36. If the Employee loses or makes unauthorized disclosure of any of the Confidential Information, the Employee will immediately notify the Employer and take all reasonable steps necessary to retrieve the lost or improperly disclosed Confidential Information.


Ownership and Title to Confidential Information
37. The Employee acknowledges and agrees that all rights, title and interest in any Confidential Information will remain the exclusive property of the Employer. Accordingly, the Employee specifically agrees and acknowledges that the Employee will have no interest in the Confidential Information, including, without limitation, no interest in know-how, copyright, trade-marks or trade names, notwithstanding the fact that the Employee may have created or contributed to the creation of the Confidential Information.

38. The Employee waives any moral rights that the Employee may have with respect to the Confidential Information.

39. The Employee agrees to immediately disclose to the Employer all Confidential Information developed in whole or in part by the Employee during the Employee's term of employment with the Employer and to assign to the Employer any right, title or interest the Employee may have in the Confidential Information.  The Employee agrees to execute any instruments and to do all other things reasonably requested by the Employer, both during and after the Employee's employment with the Employer, in order to vest more fully in the Employer all ownership rights in those items transferred by the Employee to the Employer.


Return of Confidential Information
40. The Employee agrees that, upon request of the Employer or upon termination or expiration, as the case may be, of this employment, the Employee will turn over to the Employer all Confidential Information belonging to the Employer, including but not limited to, all documents, plans, specifications, disks or other computer media, as well as any duplicates or backups made of that Confidential Information in whatever form or media, in the possession or control of the Employee





Employment Contract
Page 9 of 14


         that:

a. May contain or be derived from ideas, concepts, creations, or trade secrets and other proprietary and Confidential Information as defined in this Agreement; or

b. Is connected with or derived from the Employee's employment with the Employer.


Contract Binding Authority
41. Notwithstanding any other term or condition expressed or implied in this Agreement to the contrary, the Employee will not have the authority to enter into any contracts or commitments for or on the behalf of the Employer without first obtaining the express written consent of the Employer.


Termination Due to Discontinuance of Business
42. Notwithstanding any other term or condition expressed or implied in this Agreement, in the event that the Employer will discontinue operating its business at the location where the Employee is employed, then, at the Employer's sole option, and as permitted by law, this Agreement will terminate as of the last day of the month in which the Employer ceases operations at such location with the same force and effect as if such last day of the month were originally set as the Termination Date of this Agreement.


Termination of Employment
43. Where the Employee has breached any reasonable term of this Agreement or where there is just cause for termination, the Employer may terminate the Employee's employment without notice, as permitted by law.

44. The Employee and the Employer agree that reasonable and sufficient notice of termination of employment by the Employer is the greater of three (3) months or any minimum notice required by law.

45. If the Employee wishes to terminate this employment with the Employer, the Employee will provide the Employer with notice of three (3) months. As an alternative, if the Employee co­ operates with the training and development of a replacement, then sufficient notice is given if it is sufficient notice to allow the Employer to find and train the replacement.





Employment Contract
Page 10 of 14




46. The Termination Date specified by either the Employee or the Employer may expire on any day of the month and upon the Termination Date the Employer will forthwith pay to the Employee any outstanding portion of the wage, accrued vacation and banked time, if any, calculated to the Termination Date.

47. Once notice has been given by either party for any reason, the Employee and the Employer agree to execute their duties and obligations under this Agreement diligently and in good faith through to the end of the notice period. The Employer may not make any changes to wages, wage rate, or any other term or condition of this Agreement between the time termination notice is given through to the end of the notice period.


Remedies
48. In the event of a breach or threatened breach by the Employee of any of the provisions of this Agreement, the Employee agrees that the Employer is entitled to a permanent injunction, in addition to and not in limitation of any other rights and remedies available to the Employer at law or in equity, in order to prevent or restrain any such breach by the Employee or by the Employee's partners, agents, representatives, servants, employees, and/or any and all persons directly or indirectly acting for or with the Employee.


Severability
49. The Employer and the Employee acknowledge that this Agreement is reasonable, valid and enforceable. However, if any term, covenant, condition or provision of this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable, it is the parties' intent that such provision be changed in scope by the court only to the extent deemed necessary by that court to render the provision reasonable and enforceable and the remainder of the provisions of this Agreement will in no way be affected, impaired or invalidated as a result.


Notices
50. Any notices, deliveries, requests, demands or other communications required here will be deemed to be completed when hand-delivered, delivered by agent, or seven (7) days after being placed in the post, postage prepaid, to the parties at the following addresses or as the parties may later designate in writing:

Employer:

Name:             Net savings Link NSAV DBA Global Distribution





Employment Contract
Page 11 of 14




Address:      4747-20 Nesconset Highway Port Jefferson, NY 11776

Fax:                    (516) 250-9767

Email:              "Steven Baritz" <baritz.steven@gmail.com>,

Employee:
Name:             David M. Pecoraro 234-08-9162

Address:      454 Harshberger Rd Ste 1 Johnstown Pa 15905

Fax:                    (814) 418-6648

Email:              davidpecoraro@stock:kush.com

Modification of Agreement
51. Any amendment or modification of this Agreement or additional obligation assumed by either party in connection with this Agreement will only be binding if evidenced in writing signed by each party or an authorized representative of each party.


Additional Terms
52. Cancellation of the Investors relations contract and issuance of 10 million commons shares of stock in Company from original restriction date of09/15/2014.

53. Bonuses paid in compliance with the directors bonus program and still to be developed.
Issuance of preferred shares of Company stock as each director's split on new company acquisitions.
Bonus for directors will be set soon and other preferred policies.

54. The salary will be deferred for a loan to the company until such time the company is able to pay with profits from the business.
The starting salary will be 1000.00 a week and the remainder paid in restricted shares of company stock as voted by the board,
At the completion of year one, this 1000.00 a week will be paid or upon the completion of the private placement or funding.

55. The company will take care of the costs of travel and include the paying of expenses as they occur for traveling for company business.
We will establish a policy for company cars and other programs to ease the burden on the directors.
At such time that the company has the ability, we will develop corporate cards for these expenses.





Employment Contract
Page 12 of 14




Governing Law
56.               This Agreement will be construed in accordance with and governed by the laws of the state of Nevada.


Definitions
57.                 For the purpose of this Agreement the following definitions will apply:

a. "Overtime Hours" means the total hours worked in a day or week in excess of the maximum allowed, as defined by local statute, for a work day or a work week

b. 'Work Product' means work product information, including but not limited to, work product resulting from or related to work or projects performed or to be performed for the Employer or for clients of the Employer, of any type or form in any stage of actual or anticipated research and development.

c. 'Computer Software' means computer software resulting from or related to work or projects performed or to be performed for the Employer or for clients of the Employer, of any type or form in any stage of actual or anticipated research and development, including but not limited to, programs and program modules, routines and subroutines, processes, algorithms, design concepts, design specifications (design notes, annotations, documentation, flowcharts, coding sheets, and the like), source code, object code and load modules, programming,  program patches and system designs.

d. 'Other Proprietary Data' means information relating to the Employer's proprietary rights prior to any public disclosure of such information, including but not limited to, the nature of the proprietary rights, production data, technical and engineering data, test data and test results, the status and details of research and development of products and services, and information regarding acquiring, protecting, enforcing and licensing proprietary rights (including patents, copyrights and trade secrets).

e. 'Business Operations' means operational information, including but not limited to, internal personnel and financial information, vendor names and other vendor information (including vendor characteristics, services and agreements), purchasing and internal cost information, internal services and operational manuals, and the manner and methods of conducting the Employer's business.





Employment Contract
Page 13 of 14




f. 'Marketing and Development Operations' means marketing and development information, including but not limited to, marketing and development plans, price and cost data, price and fee amounts, pricing and billing policies, quoting procedures, marketing techniques and methods of obtaining business, forecasts and forecast assumptions and volumes, and future plans and potential strategies of the Employer which have been or are being considered.

g. 'Customer Information' means customer information, including but not limited to, names of customers and their representatives, contracts and their contents and parties, customer services, data provided by customers and the type, quantity and specifications of products and services purchased, leased, licensed or received by customers of the Employer.

h. 'Termination Date' means the date specified in this Agreement or in a subsequent notice by either the Employee or the Employer to be the last day of employment under this Agreement. The parties acknowledge that various provisions of this Agreement will survive the Termination Date.


General Provisions
58. Time is of the essence in this Agreement.

59. Headings are inserted for the convenience of the parties only and are not to be considered when interpreting this Agreement. Words in the singular mean and include the plural and vice versa. Words in the masculine mean and include the feminine and vice versa.

60. No failure or delay by either party to this Agreement in exercising any power, right or privilege provided in this Agreement will operate as a waiver, nor will any single or partial exercise of such rights, powers or privileges preclude any further exercise of them or the exercise of any other right, power or privilege provided in this Agreement.

61. This Agreement will inure to the benefit of and be binding upon the respective heirs, executors, administrators, successors and assigns, as the case may be, of the Employer and the Employee.

62. This Agreement may be executed in counterparts. Facsimile signatures are binding and are considered to be original signatures.





Employment Contract
Page 14 of 14




63. This Agreement constitutes the entire agreement between the parties and there are no further items or provisions, either oral or written. The parties to this Agreement stipulate that neither of them has made any representations with respect to the subject matter of this Agreement except such representations as are specifically set forth in this Agreement.


IN WITNESS WHEREOF, the parties have duly affixed their signatures under hand and seal on this 5th day of April, 2015.


EMPLOYER:
 
 
Net savings Link NSAV DBA Global Distribution
   
   
Per:
STEVEN BARITZ                                                        (SEAL)
 
Steven Baritz C.E.O.
   
   
   
EMPLOYEE:
   
   
   
_____________________________________
David M. Pecoraro 234-08-9162




















©2002-2015 LawDepot.com™
 
 
Exhibit 31.1

SARBANES-OXLEY SECTION 302(a) CERTIFICATION

I, Steven Baritz, certify that:

1. I have reviewed this Form 10-Q for the period ending February 28, 2015 of Net Savings Link, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:
April 20, 2015
STEVEN BARITZ
   
Steven Baritz
   
Principal Executive Officer and Principal Financial Officer

 
 
Exhibit 32.1





CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002


In connection with the Quarterly Report of Net Savings Link, Inc., (the "Company") on Form 10-Q for the period ended February 28, 2015 as filed with the Securities and Exchange Commission on the date hereof (the "report"), I, Steven Baritz, Chief Executive Officer and Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in this Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated this 20 th day of April, 2015.


 
STEVEN BARITZ
 
Steven Baritz
 
Chief Executive Officer and Chief Financial Officer