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Thinspace Technology Inc. (THNS)

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Last Post: 7/14/2014 8:19:48 AM - Followers: 70 - Board type: Free - Posts Today: 0
THNS Security Details
Share Structure

 

Market Value1 $78,812,725 a/o Mar 18, 2014
Shares Outstanding 87,569,694 a/o Jan 06, 2014
Float Not Available
Authorized Shares 500,000,000 a/o Dec 31, 2013
Par Value 0.001
Shareholders

 

Shareholders of Record 68 a/o Apr 15, 2013
Security Notes

 

  • Capital Change=shs decreased by 1 for 3000 split. Pay date=02/10/2012.
 
Short Selling Data

 

Short Interest 0 (-100%)
Oct 15, 2013
Significant Failures to Deliver No
Transfer Agent(s)

 

 

 

 
 
NOTE 3 – CONVERTIBLE DEBENTURES AND DERIVATIVE LIABILITIES 
 
The Company has identified the embedded derivatives related to its convertible notes, consisting of the conversion feature, its preferred stock, 
consisting of the conversion feature, and its warrants. Since certain of the notes are convertible into a variable number of shares, the 
conversion features of those debentures are recorded as derivative liabilities. Since the warrants and the conversion feature of the preferred 
stock have a price reset feature, they are recorded as derivative liabilities. The accounting treatment of derivative financial instruments requires 
that the Company record fair value of the derivatives as of the inception date and to adjust to fair value as of each subsequent balance sheet 
date. 
 
Greystone $52K Financing 
 
On April 2, 2013, the Company entered into a Securities Purchase Agreement with Greystone Capital Partners, Inc. (Greystone), an accredited 
investor, providing for the sale by the Company to Greystone of an 8% convertible debenture in the aggregate principal amount of $52,000 (the 
“Greystone Debenture”). The Greystone Debenture matures on the first anniversary of the date of issuance (the “Maturity Date”) and bears 
interest a rate of 8% per annum, payable on the Maturity Date. Greystone may convert, at any time, the outstanding principal and accrued 
interest on the Greystone Debenture into shares of the Company’s common stock, par value $0.001 per share (“Common Stock”) at a 
conversion price that is the lesser of (i) ninety percent (90%) discount of the average of the closing bid price of the Common Stock during the 
five (5) trading days immediately preceding the Conversion Date as quoted by Bloomberg, LP or (ii) the average of the closing bid price per 
share during the five (5) trading days prior to the date of any such conversion (“Conversion Price”). The Conversion Price may be adjusted 
pursuant to the other terms of this Debenture. 
 
With the exception of the shares the Company is obligated to issue to previous investors, for as long as the Debenture is outstanding, the 
Conversion Price of the Debenture shall be subject to adjustment for issuances of Common Stock or securities convertible into common stock 
or exercisable for shares of Common Stock at a purchase price of less than the then-effective Conversion Price, on any unconverted amounts, 
such that the then applicable Conversion Price shall be adjusted using full-ratchet anti-dilution on such new issuances subject, to customary 
carve outs, including restricted shares granted to officers, and directors and consultants. 
 
The conversion feature of the April 2013 Greystone debenture contains a variable conversion rate. As a result, we have classified the 
conversion feature as a derivative liability in the financial statements. At issue, we have recorded a conversion feature liability of $494,723. 
The value of the conversion feature liability was determined using the Black-Scholes method based on the following assumptions: (1) risk free 
interest rate of 0.14%; (2) dividend yield of 0%; (3) volatility factor of the expected market price of our common stock of 140%; and (4) an 
expected life of 1 year. The Company has allocated $52,000 to debt discount, to be amortized over the life of the debt, with the balance of 
$442,723 being charged to expense at issue. 

IBC Funds $25K Financing 
On June 7, 2013, the Company entered into a Securities Purchase Agreement with IBC Funds, LLC (IBC), an accredited investor, providing for 
the sale by the Company to IBC of an 8% convertible debenture in the aggregate principal amount of $25,000 (the “June 2013 Debenture”). 
The June 2013 Debenture matures on the first anniversary of the date of issuance (the “Maturity Date”) and bears interest a rate of 8% per 
annum, payable on the Maturity Date. The Investor may convert, at any time, the outstanding principal and accrued interest on the June 2013 
Debenture into shares of the Company’s common stock, par value $0.001 per share (“Common Stock”) at a conversion price that is the lesser 
of (i) ninety percent (90%) discount of the average of the closing bid price of the Common Stock during the five (5) trading days immediately 
preceding the Conversion Date as quoted by Bloomberg, LP or (ii) the average of the closing bid price per share during the five (5) trading days 
prior to the date of any such conversion (“Conversion Price”). The Conversion Price may be adjusted pursuant to the other terms of this 
Debenture. 
 
With the exception of the shares the Company is obligated to issue to previous investors, for as long as the Debenture is outstanding, the 
Conversion Price of the Debenture shall be subject to adjustment for issuances of Common Stock or securities convertible into common stock 
or exercisable for shares of Common Stock at a purchase price of less than the then-effective Conversion Price, on any unconverted amounts, 
such that the then applicable Conversion Price shall be adjusted using full-ratchet anti-dilution on such new issuances subject, to customary 
carve outs, including restricted shares granted to officers, and directors and consultants. 
 
The conversion feature of the June 2013 IBC debenture contains a variable conversion rate. As a result, we have classified the conversion 
feature as a derivative liability in the financial statements. At issue, we have recorded a conversion feature liability of $211,876. The value of 
the conversion feature liability was determined using the Black-Scholes method based on the following assumptions: (1) risk free interest rate 
of 0.135%; (2) dividend yield of 0%; (3) volatility factor of the expected market price of our common stock of 147%; and (4) an expected life 
of 1 year. The Company has allocated $25,000 to debt discount, to be amortized over the life of the debt, with the balance of $186,876 being 
charged to expense at issue. 
 
IBC Funds $20K Financing 
On July 2, 2013, the Company entered into a Securities Purchase Agreement with IBC Funds, LLC (IBC), an accredited investor, providing for 
the sale by the Company to IBC of an 8% convertible debenture in the aggregate principal amount of $20,000 (the “July 2013 Debenture”). The 
July 2013 Debenture matures on the first anniversary of the date of issuance (the “Maturity Date”) and bears interest a rate of 8% per annum, 
payable on the Maturity Date. The Investor may convert, at any time, the outstanding principal and accrued interest on the July 2013 Debenture 
into shares of the Company’s common stock, par value $0.001 per share (“Common Stock”) at a conversion price that is the lesser of (i) ninety 
percent (90%) discount of the average of the closing bid price of the Common Stock during the five (5) trading days immediately preceding the 
Conversion Date as quoted by Bloomberg, LP or (ii) the average of the closing bid price per share during the five (5) trading days prior to the 
date of any such conversion (“Conversion Price”). The Conversion Price may be adjusted pursuant to the other terms of this Debenture. 
 
With the exception of the shares the Company is obligated to issue to previous investors, for as long as the Debenture is outstanding, the 
Conversion Price of the Debenture shall be subject to adjustment for issuances of Common Stock or securities convertible into common stock 
or exercisable for shares of Common Stock at a purchase price of less than the then-effective Conversion Price, on any unconverted amounts, 
such that the then applicable Conversion Price shall be adjusted using full-ratchet anti-dilution on such new issuances subject, to customary 
carve outs, including restricted shares granted to officers, and directors and consultants. 
 
The conversion feature of the July 2013 IBC debenture contains a variable conversion rate. As a result, we have classified the conversion 
feature as a derivative liability in the financial statements. At issue, we have recorded a conversion feature liability of $184,294. The value of 
the conversion feature liability was determined using the Black-Scholes method based on the following assumptions: (1) risk free interest rate 
of 0.16%; (2) dividend yield of 0%; (3) volatility factor of the expected market price of our common stock of 156%; and (4) an expected life of 
1 year. The Company has allocated $20,000 to debt discount, to be amortized over the life of the debt, with the balance of $164,294 being 
charged to expense at issue. 
 
IBC Funds $50K Financing 
On August 14, 2013, the Company entered into a Securities Purchase Agreement with IBC Funds, LLC (IBC), an accredited investor, 
providing for the sale by the Company to IBC of an 8% convertible debenture in the aggregate principal amount of $50,000 (the “IBC August 
2013 Debenture”). The IBC August 2013 Debenture matures on the first anniversary of the date of issuance (the “Maturity Date”) and bears 
interest a rate of 8% per annum, payable on the Maturity Date. The Investor may convert, at any time, the outstanding principal and accrued 
interest on the IBC August 2013 Debenture into shares of the Company’s common stock, par value $0.001 per share (“Common Stock”) at a 
conversion price that is the lesser of (i) ninety percent (90%) discount of the average of the closing bid price of the Common Stock during the 
five (5) trading days immediately preceding the Conversion Date as quoted by Bloomberg, LP or (ii) the average of the closing bid price per 
share during the five (5) trading days prior to the date of any such conversion (“Conversion Price”). The Conversion Price may be adjusted 
pursuant to the other terms of this Debenture. 
 
 
 
 

 


PostSubject
#2676  Sticky Note Well, we got a new Pump and Dump STOCKBULLY 03/18/14 06:50:33 PM
#1629  Sticky Note BOARD WARNING: Please Read: IH Admin [Shelly] 08/10/11 10:16:17 AM
#3178   Come on Bryan, everyone is waiting to see STOCKBULLY 07/14/14 08:19:48 AM
#3177   well, come on Erin get busy. unless STOCKBULLY 07/08/14 07:57:42 PM
#3176   come on Bryan, order up another conversion. STOCKBULLY 06/30/14 06:14:34 PM
#3175   I think the shell guys are still around STOCKBULLY 06/23/14 10:25:16 AM
#3174   As some shopping sites struggle, 3 new outlet feirrcom 06/21/14 09:22:49 PM
#3173   I agree with your post... not a Good Cast Iron 06/20/14 03:07:19 PM
#3172   Just for clarity the software already blows their TECHuser 06/11/14 10:42:26 AM
#3171   Just for clarity the software already blows their TECHuser 06/11/14 10:41:50 AM
#3170   ?? What does that mean? TECHuser 06/11/14 10:15:46 AM
#3169   This IS OFFICIAL!!! STOCKBULLY 06/10/14 07:51:08 PM
#3168   This is UNOFFICIAL!!! Thinspace will be releasing TECHuser 06/10/14 02:30:23 PM
#3167   Isn't that strange, over 350 posts roll out STOCKBULLY 06/10/14 11:47:14 AM
#3166   looks like the paid posters are gone and STOCKBULLY 06/10/14 08:14:24 AM
#3165   Dump brought to you courtesy of Bryan Collins STOCKBULLY 06/10/14 08:06:20 AM
#3164   Ready to push for a nhod here budfoxhub 06/09/14 03:06:16 PM
#3163   .25 one mm left on the ask heading budfoxhub 06/09/14 02:48:17 PM
#3162   getting some press today, nice support here.. looking good mrbizzard 06/09/14 02:34:53 PM
#3161   Very nice writeup! homey_g 06/09/14 02:03:47 PM
#3160   Thinspace Technology (OTC: THNS) was higher again as NYC Trader 06/09/14 01:57:34 PM
#3159   only 40k more volume before the highest volume homey_g 06/09/14 01:42:33 PM
#3158   THNS L2 @ 1:40pm... homey_g 06/09/14 01:41:46 PM
#3157   Leaving before "The Dump" thanks bully dolfan72 06/09/14 12:42:00 PM
#3156   Sorry guys I'm selling & taking profit from dolfan72 06/09/14 12:35:57 PM
#3155   Bids stacking up, ready to move here budfoxhub 06/09/14 12:34:40 PM
#3154   Over 640k in volume already! budfoxhub 06/09/14 12:01:26 PM
#3153   THNS L2... homey_g 06/09/14 11:57:05 AM
#3152   THNS off to a great start this week! jedijazz 06/09/14 11:35:38 AM
#3151   Just got an advertisement for this one on Rawjazz 06/09/14 11:22:10 AM
#3150   25 x 26 getting alot of the interest THNS NYC Trader 06/09/14 11:18:32 AM
#3149   Very interesting stuff...I am cloud dork! homey_g 06/09/14 11:15:38 AM
#3148   When looking at their market, THNS has but jedijazz 06/09/14 11:09:53 AM
#3147   $THNS ~ low production cost enables them to jedijazz 06/09/14 11:09:29 AM
#3146   nice bounce from the lows, mrbizzard 06/09/14 11:07:53 AM
#3145   $THNS launched its new comprehensive Thinspace Advantage, a jedijazz 06/09/14 11:06:58 AM
#3144   Well, MBAY is now gone, so maybe she homey_g 06/09/14 11:05:09 AM
#3143   Very nice...please post the THNS Float if they homey_g 06/09/14 11:04:42 AM
#3142   Don't Forget there is well over 100 Million STOCKBULLY 06/09/14 11:03:12 AM
#3141   OMG, looks like Bryan and Erin have stooped STOCKBULLY 06/09/14 11:01:29 AM
#3140   Huge intraday trading here! THNS jedijazz 06/09/14 10:55:41 AM
#3139   Nice loading zone in the .25's budfoxhub 06/09/14 10:49:01 AM
#3138   SICK RUN FOR SURE.........THNS......Hammer Hammer1 06/09/14 10:47:53 AM
#3137   THNS run to $1 took like 5 days...indeed, stellar! homey_g 06/09/14 10:44:40 AM
#3136   If we break 0.25...and MBAY, I bet 0.28 homey_g 06/09/14 10:44:05 AM
#3135   Looks like 0.23 is the line in the homey_g 06/09/14 10:28:47 AM
#3134   looks like some consolidation on the 15 minute chart! homey_g 06/09/14 10:28:07 AM
#3133   Agreed. ....THNS is a very good buy here. ....Hammer Hammer1 06/09/14 10:27:53 AM
#3132   Agreed LC...THNS volume is looking good! homey_g 06/09/14 10:22:42 AM
#3131   THNS L2...looking good! homey_g 06/09/14 10:21:37 AM
#3130   could be a shake ..seen similar trading many times.. mrbizzard 06/09/14 10:19:15 AM
#3129   Pushing for a hod test soon, getting close budfoxhub 06/09/14 10:16:57 AM
PostSubject