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Thinspace Technology Inc. (THNS)

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Last Post: 11/20/2014 8:57:39 PM - Followers: 79 - Board type: Free - Posts Today: 1
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. 
 
 
 
 

 


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THNS
Current Price
Volume:
Bid Ask Day's Range
Wiki
THNS News: Alpine Jaguar Continues Commitment to Thinspace Desktop Virtualization Solutions 11/12/2014 07:30:00 AM
THNS News: Thinspace Partners with Fidalia Networks to Provide Desktop Virtualization and Cloud Service Solutions to Canadian Customers 11/03/2014 07:30:00 AM
THNS News: Pecos County Memorial Hospital in Texas Completes Their Thinspace Technology VDI Environment Upgrade 10/30/2014 08:24:00 AM
THNS News: skyDirect Integrates with Thinspace Controller for Easy Management of Virtual Desktops and Broker Connections 10/29/2014 07:30:00 AM
THNS News: Thinspace (OTC: THNS) Gears Up for Growth, Expands Next Generation Product Development Team and Upgrades Facility 10/07/2014 04:01:00 PM
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
#3333   goodness, a few changes around here STOCKBULLY 11/20/14 08:57:39 PM
#3332   I too am low on funds for $THNS! homey_g 11/19/14 03:46:44 PM
#3331   Yeah, I see 0.20s getting hit! homey_g 11/19/14 03:46:18 PM
#3330   I had not been able to get funds iamnottheone 11/19/14 03:43:51 PM
#3329   High of day was .208 see if iamnottheone 11/19/14 03:42:46 PM
#3328   Power hour is shinin through.. cloudnineindex 11/19/14 03:39:06 PM
#3327   53k back on the ASK @ 0.20...$THNS trying homey_g 11/19/14 03:34:31 PM
#3326   Well, it won't hold down there for long... cloudnineindex 11/19/14 03:22:52 PM
#3325   NITE trying to keep her under 0.20! homey_g 11/19/14 03:17:58 PM
#3324   I like that, good post cloudnineindex 11/19/14 03:05:14 PM
#3323   Id say thats good news! lets see whats cloudnineindex 11/19/14 02:51:16 PM
#3322   If $THNS can clear 0.20s into Power Hour...who homey_g 11/19/14 02:47:56 PM
#3321   Simple Application Delivery iamnottheone 11/19/14 02:47:09 PM
#3320   $THNS...has the power already! HOD is within reach! homey_g 11/19/14 02:45:59 PM
#3319   Power around the corner.. with the news today, cloudnineindex 11/19/14 02:28:29 PM
#3318   Another MM, CANT, in the mix on $THNS 0.20s! homey_g 11/19/14 02:21:15 PM
#3317   0.20s getting hit! homey_g 11/19/14 02:19:45 PM
#3316   wow Schrager that didn't take long for the iamnottheone 11/19/14 02:18:59 PM
#3315   0.25 is not too far away for $THNS! homey_g 11/19/14 02:18:46 PM
#3314   Sounds good. This one reacts very well to cloudnineindex 11/19/14 02:15:34 PM
#3313   Thanks man! SchragerTrader23 11/19/14 02:14:02 PM
#3312   Well, they are back on 0.20s per my homey_g 11/19/14 02:14:00 PM
#3311   once we get through those .20's its pretty thin! SchragerTrader23 11/19/14 02:13:39 PM
#3310   $THNS L2 Update...0.20s back up on ASK! homey_g 11/19/14 02:13:01 PM
#3309   I agree! very important area SchragerTrader23 11/19/14 02:13:01 PM
#3308   Thank you! I will keep updating the homey_g 11/19/14 02:10:01 PM
#3307   Yeah, they try to crush the good ones! homey_g 11/19/14 02:09:27 PM
#3306   funny well not funny haha, but funny iamnottheone 11/19/14 02:04:04 PM
#3305   Nice chart update.... let's see what happens with cloudnineindex 11/19/14 02:03:01 PM
#3304   wow is right, thank you for sharing iamnottheone 11/19/14 02:01:54 PM
#3303   Someone wanting to keep it under 0.20... homey_g 11/19/14 01:58:03 PM
#3302   $THNS Chart Update... homey_g 11/19/14 01:57:27 PM
#3301   yay, we have 0.20's :) WizardofOdds1357 11/19/14 01:55:30 PM
#3300   Yes, I did note that $THNS is doing B2B! homey_g 11/19/14 01:54:43 PM
#3299   Lookin good, in the green, news had a cloudnineindex 11/19/14 01:54:21 PM
#3298   Just finished watching this CEO video interview on WizardofOdds1357 11/19/14 01:53:56 PM
#3297   I was reading that on the website iamnottheone 11/19/14 01:51:43 PM
#3296   $THNS DD Notes ~ http://www.ddnotesmaker.com/THNS SchragerTrader23 11/19/14 01:48:06 PM
#3295   yES SIR! fantastic volume coming in!as you can SchragerTrader23 11/19/14 01:47:47 PM
#3294   yes I did :) nice volume as well WizardofOdds1357 11/19/14 01:47:03 PM
#3293   That is all great stuff! SchragerTrader23 11/19/14 01:45:06 PM
#3292   me 2, wow You can download fully featured WizardofOdds1357 11/19/14 01:44:43 PM
#3291   This is fantastic from a technical side! when SchragerTrader23 11/19/14 01:44:34 PM
#3290   Do you notice how both the short term SchragerTrader23 11/19/14 01:44:05 PM
#3289   homey also make note of the B2B applications iamnottheone 11/19/14 01:43:34 PM
#3288   OneGate is an application gateway that provides secure SchragerTrader23 11/19/14 01:43:16 PM
#3287   I am amazed at the news today...I am homey_g 11/19/14 01:42:13 PM
#3286   Very nice detailed weekly chart there Schrager:) ty WizardofOdds1357 11/19/14 01:41:52 PM
#3285   hmmm Schrager this is getting more and more iamnottheone 11/19/14 01:41:49 PM
#3284   $THNS...more good info from today's PR! homey_g 11/19/14 01:41:13 PM
PostSubject