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Thinspace Technology Inc. (THNS)

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Last Post: 10/15/2014 3:51:39 PM - Followers: 75 - 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
#3227   they will be hiring some more second and STOCKBULLY 10/15/14 03:51:39 PM
#3226   Not in yet ... JohnCM 10/08/14 08:13:27 PM
#3225   Thinspace Technology (THNS) mick 10/07/14 11:24:36 PM
#3224   I hope sales increase faster than administration costs ... JohnCM 10/07/14 03:21:10 PM
#3223   Does this look like they will have any STOCKBULLY 10/07/14 01:50:08 PM
#3222   The conversion still brings o/s under a/s. With, all JohnCM 10/07/14 11:49:42 AM
#3221   that is kind of like a 67% don't buy? STOCKBULLY 10/07/14 11:12:22 AM
#3220   THNS recent news/filings mick 10/07/14 11:06:56 AM
#3219   THNS Receives a 32% Buy Recommendation geraldr 10/07/14 10:22:58 AM
#3218   all I see on it today is the STOCKBULLY 10/07/14 10:17:00 AM
#3217   THNS O WELL VOLUME MAKES FOR geraldr 10/07/14 10:15:06 AM
#3216   THNS Has passed the daily volume average already geraldr 10/07/14 10:14:12 AM
#3215   that $147,000 converts at .001 or a 90% STOCKBULLY 10/07/14 10:08:49 AM
#3214   might be a good company but when they STOCKBULLY 10/07/14 09:29:40 AM
#3213   you might want to read the filings STOCKBULLY 10/07/14 09:28:12 AM
#3212   smart investors stay away from crap like this STOCKBULLY 10/07/14 09:25:57 AM
#3211   Today a stock psycho alert? JJZander 10/07/14 08:56:50 AM
#3210   http://stockpromoters.com/news-letters.aspx?symbol=THNS JohnCM 10/07/14 07:45:13 AM
#3209   Was VAEV a shell? JohnCM 10/07/14 07:38:23 AM
#3208   June 30, 2014 JohnCM 10/07/14 07:31:19 AM
#3207   "I just took a screenshot of your post JohnCM 10/07/14 07:23:36 AM
#3206   I understand the temptation in having debt convert JohnCM 10/07/14 07:21:33 AM
#3205   "1. Why are they pumping when they have JohnCM 10/07/14 07:12:41 AM
#3204   you got that right HSTallday76 10/06/14 09:42:21 PM
#3203   THNS Smart investors load up on small geraldr 10/06/14 09:23:45 PM
#3202   lol, what did you expect? STOCKBULLY 10/06/14 03:17:51 PM
#3201   Come on Erin, are you serious? DF STOCKBULLY 10/05/14 04:45:14 PM
#3200   taking a look HSTallday76 10/03/14 08:47:20 PM
#3199   they are pumping because Bryan Collins/Greystone Capital/IBC Funds STOCKBULLY 09/29/14 07:22:40 PM
#3198   1. Why are they pumping when they have Moonistea 09/28/14 03:19:27 PM
#3197   Paid pump.. Only to sell! Stock Predictor 09/28/14 03:12:24 PM
#3196   $THNS DD Notes ~ http://www.ddnotesmaker.com/THNS stocktrademan 09/28/14 11:52:18 AM
#3195   if you are listening to people on message STOCKBULLY 09/26/14 09:03:13 AM
#3194   I am enjoying this run. Jumped in yesterday ThePennyDoctor 09/24/14 04:44:39 PM
#3193   Well I listened to people on this board Moonistea 09/24/14 04:01:16 PM
#3192   the insiders are walking the stock up right STOCKBULLY 09/24/14 03:56:48 PM
#3191   I have a question: The news that came Moonistea 09/23/14 10:00:00 PM
#3190   I wonder if this CEO can spell C_O_L_L_U_S_I_O_N STOCKBULLY 09/23/14 10:30:53 AM
#3189   Here comes another paid pump STOCKBULLY 09/22/14 11:14:15 PM
#3188   if it is the real deal then why STOCKBULLY 09/06/14 09:36:44 AM
#3187   Where is the scam? Everything is disclosed Cast Iron 09/06/14 07:14:11 AM
#3186   SCAM SCAM SCAM STOCKBULLY 09/04/14 12:33:36 PM
#3185   There is that news I was talking about. STOCKBULLY 09/04/14 09:06:47 AM
#3184   lol, now I get it. I was STOCKBULLY 09/03/14 07:51:14 PM
#3183   Looks like Bryan Collins and his side kick STOCKBULLY 09/03/14 07:28:18 PM
#3182   I agree. The last Q results were amazing. Cast Iron 08/25/14 05:24:19 PM
#3181   Wow, the spread here is scary big, very StockBull 08/23/14 06:40:14 PM
#3180   Q Results out soon. Latest 15 August Cast Iron 08/06/14 04:15:28 PM
#3179   Bryan, are you out of paper? STOCKBULLY 07/28/14 07:38:09 PM
#3178   Come on Bryan, everyone is waiting to see STOCKBULLY 07/14/14 08:19:48 AM
PostSubject