American Green Inc (ERBB)

[IBurnPurpleKush]

no transparency here. tell me if u can find the name of one of the various debenture holders... "consulting corporation ","financial consultant", and "former president" are the best I could find. MOST of them just say they were issued to a "creditor" or a "Holder" or a "Lender" so that doesn't tell us anything about the debenture debt holders. this brings up a lot of questions about who these various debenture holders are. they also put that 9.9 restriction so none of them have to file a form 4.

http://www.investopedia.com/terms/f/form4.asp

Definition of 'Form 4'

A document that must be filed with the Securities and Exchange Commission (SEC) whenever there is a material change in the holdings of company insiders. Insiders required to submit a Form 4 include directors and officers of the company as well as any shareholders owning 10% or more of the company's outstanding stock.


NOTE 4. DEBENTURES PAYABLE

Retired Debentures

On December 15, 2006, the Company originally issued a debenture payable to a Holder for $150,942 in cash
advances. The debenture accrues interest at 10% per annum and can convert into the company’s common stock at
50% of the lowest closing bid price 360 trading days before the conversion date. The Holder is restricted from any
conversions that would result in the Holder owning over 9.9% of the outstanding common shares of the Company after
the conversion. At June 30, 2012, the Company owed $7,707 in principal and $28,529 in accrued interest. During the
year quarter ended September 30, 2012, the Company issued 45,000,000 common shares valued at $11,486 paying
off the principal and reducing the accrued interest by $3,779. During the quarter ended December 31, 2012, the
Company issued 45,000,000 common shares valued at $24,925 that paid off all the accrued interest on the debenture
resulting in the debenture being paid off and retired by the Company.

During the quarter ended September 30, 2011 a lender advanced the company $7,500 that was converted into a
debenture at December 31, 2011. The debenture accrues interest at 10% per annum and will convert into the
company’s common stock at 50% of the lowest closing bid price 360 trading days before the conversion date. The
Holder is restricted from any conversions that would result in the Holder owning over 9.9% of the outstanding common
shares of the Company after the conversion. During the quarters ended September 30, 2012 and December 31, 2012,
interest accrued on the debenture was $188 and $188, respectively. During the quarter ended March 31, 2013 the
debenture accrued $187 in interest and $188 for the quarter ended June 30, 2013. At June 30, 2013 the Holder was
owed $7,500 in principal and $1,489 in accrued interest. During the quarter ended September 30, 2013, the Company
issued 16,514,816 common shares to the Holder resulting in the entire principal and accrued interest being paid off.

On December 31, 2011 the Company issued a debenture to a Holder for $26,444 for cash advances to the Company
during the quarter ended December 31, 2011. The Holder is restricted from any conversions that would result in the
Holder owning over 9.9% of the outstanding common shares of the Company after the conversion. The debenture will
accrue interest at 10% per annum and will convert into the company’s common stock at 50% of the lowest closing bid
price 360 trading days before the conversion date. During the quarter ended September 30, 2013, interest accrued on
the debenture of $661. At September 30, 2013, the principal balance was $26,444 and the accrued interest was
$4,627. The Company paid off the debenture during the quarter ended December 31, 2013 by issuing 48,080,000
common shares for $26,444 of principal and 8,812,727 common shares for $4,847 of accrued interest through the end
of the same quarter.

On December 31, 2010, the Company issued a debenture payable for $162,706 for cash advances during the 2010
calendar year. The debenture accrues interest at 10% per annum and can convert into the company’s common stock
at 50% of the lowest closing bid price 360 trading days before the conversion date. The Holder is restricted from any
conversions that would result in the Holder owning over 9.9% of the outstanding common shares of the Company after
the conversion. During the quarter ended September 30, 2012, the Company issued 6,666,667 common shares
valued at $6,667 reducing the principal by $1,092 and accrued interest $5,575. At September 30, 2012, the Company
owed the Holder $4,324 in principal and $7,816 in accrued interest. During the quarter ended June 30, 2013, the
Holder converted $590 of principal and $2,848 of accrued interest for 6,250,000 common shares of the Company.
During the quarter ended December 31, 2013 the debenture accrued $108 in accrued interest resulting in the
Company owing $4,324 in principal and $8,462 in accrued interest at December 31, 2013. The Company paid off the
debenture during the quarter ended March 31, 2014 by issuing 7,861,818 common shares for $4,324 of principal and
15,385,455 common shares for $8,462 of accrued interest through the end of the same quarter.

On March 31, 2008, the company originally issued a debenture payable to a creditor for $205,000 of unpaid
compensation. The debenture accrues interest at 10% per annum and can convert into the company’s common stock
at 50% of the lowest closing bid price 360 trading days before the conversion date. The Holder is restricted from any
conversions that would result in the Holder owning over 9.9% of the outstanding common shares of the Company after
the conversion. At June 30, 2012 the Company owed $11,015 in principal and $2,022 in accrued interest. During the
quarter ended September 30, 2012 the debenture accrued $275 in interest. During the quarter ended March 31, 2013
the debenture accrued $276 in interest. At March 31, 2013, the Company owed the Holder $11,015 in principal and
$2,848 in accrued interest. During the quarter ended December 31, 2013 the debenture accrued $261 in interest. At
December 31, 2013 the Company owed the Holder $10,425 in principal and $782 in accrued interest. The Company paid off the debenture during the quarter ended March 31, 2014 by issuing 18,954,545 common shares for $10,425 of
principal and 1,501,818 common shares for $826 of accrued interest through the end of the same quarter.

On December 31, 2009, the company originally issued a debenture payable to a creditor for $278,184 of unpaid
compensation. The debenture accrues interest at 10% per annum and can convert into the company’s common stock
at 50% of the lowest closing bid price 360 trading days before the conversion date. The Holder is restricted from any
conversions that would result in the Holder owning over 9.9% of the outstanding common shares of the Company after
the conversion. At June 30, 2012, the Company owed the Holder $73,184 in principal and $23,511 in accrued interest.
During the quarter ended September 30, 2012, the Company issued 45,000,000 common shares valued at $24,750
reducing the principal by $14,032 and accrued interest $10,718. During the quarter ended December 31, 2012 the
Company issued a total of 120,000,000 common shares under two separate demands notices valued at a total of
$66,000. During the quarter ended March 31, 2013 the debenture accrued $189 in interest. During the quarter ended
September 30, 2013, the debenture accrued $189 of interest. During the quarter ended December 31, 2013 the
debenture accrued $189 of interest and at December 31, 2013 the Company owed the debenture holder $7,570 of
principal and $944 of accrued interest. The Company paid off the debenture during the quarter ended March 31, 2014
by issuing 13,763,636 common shares for $7,570 of principal and 1,945,455 common shares for $1,070 of accrued
interest through the end of the same quarter.

On June 29, 2012, the Company issued a $500,000 convertible debenture to a former president of the Company in
exchange for his release of a $268,000 secured note that had a lien on the Company’s inventory and any and all of its’
assets of any kind or nature including assets held by its subsidiaries as of February 11, 2011. The value of the
Debenture was determined based upon a discount to the book value of the Company’s intellectual property and
assets. The Holder is restricted from any conversions that would result in the Holder owning over 9.9% of the
outstanding common shares of the Company after the conversion. The debenture accrues interest at 10% per annum
and will convert into the company’s common stock at 50% of the lowest closing bid price 360 trading days before the
conversion date. During the quarter ended March 31, 2012 the Company issued a total of 475,000,000 common
shares under four separate demand notices reducing the principal by $261,250. Accrued interest expense during the
quarter ended March 31, 2013 was $2,662. During the quarters ended September 30, 2013 and December 31, 2013,
the debenture accrued $675 of interest during each respective quarter. At December 31, 2013, the principal balance
was $27,000 and the accrued interest was $29,036. The Company paid off the debenture during the quarter ended
March 31, 2014 by issuing 49,090,909 common shares for $27,000 of principal and 50,909,091 common shares for
$28,000 of accrued interest through the end of the same quarter.

On November 30, 2012, the Company reduced its loans from shareholders by $210,000 by issuing a debenture to a
consulting corporation for its services for the same amount from January 1, 2011 through December 31 2011. The
debenture accrues interest at 10% per annum and will convert into the company’s common stock at 50% of the lowest
closing bid price 360 trading days before the conversion date. The Holder is restricted from any conversions that
would result in the Holder owning over 9.9% of the outstanding common shares of the Company after the conversion.
Accrued interest expense during the quarter ended March 31, 2013 was $5,250. During the quarter ended June 30,
2013, the Holder converted $84,820 of principal and $11,430 of accrued interest for 175,000,000 resulting in the
outstanding principal being $125,180 at the end June 30, 2013. During the quarter ended September 30, 2013, the
Holder converted $110,000 of principal for 210,379,957 common shares resulting in the outstanding principal being
$15,180 at September 30, 2013. The debenture accrued $379 of interest during the quarter ended December 31,
2013 resulting in an outstanding principal balance of $15,180 and $379 of accrued interest at the end of the quarter.
The Company paid off the debenture during the quarter ended March 31, 2014 by issuing 27,600,000 common shares
for $15,180 of principal and 689,091 common shares for $379 of accrued interest through the end of the same
quarter.

On November 30, 2012, the Company reduced its loans from shareholders by $165,000 by issuing a $165,000
convertible debenture to a former president of the Company for his services from January 1, 2010 thru January 31,
2011. The debenture accrues interest at 10% per annum and will convert into the company’s common stock at 50% of
the lowest closing bid price 360 trading days before the conversion date. The Holder is restricted from any
conversions that would result in the Holder owning over 9.9% of the outstanding common shares of the Company after
the conversion. Accrued interest expense during the quarter ended March 31, 2013 was $4,125 and $4,125 for the
quarter ended June 30, 2013 resulting in the Company owing $165,000 in principal and $9,625 in accrued interest at
June 30, 2013. During the quarter ended September 30, 2013, the debenture accrued $4,125 in interest resulting in
the Company owing 165,000 in principal and $13,750 in accrued interest. During the quarter ended December 31,
2013, the Holder converted into 218,107,273 common shares reducing the principal by $119,959 and 25,000,000
common shares for $13,750 of accrued interest. Interest of $2,626 accrued during the quarter resulting the principal
balance being $45,041 and accrued interest being $2,626 at December 31, 2013. The Company paid off the debenture during the quarter ended March 31, 2014 by issuing 81,892,727 common shares for $45,041 of principal
and 4,774,546 common shares for $2,626 of accrued interest through the end of the same quarter.


Outstanding Debentures

On September 30, 2011, the company reduced its accounts payable by $270,000 by issuing a debenture to the
company’s former president for the same amount for unpaid compensation from July 1, 2008 through December 31
2009. The debenture accrues interest at 10% per annum and will convert into the company’s common stock at 50% of
the lowest closing bid price 360 trading days before the conversion date. The Holder is restricted from any
conversions that would result in the Holder owning over 9.9% of the outstanding common shares of the Company after
the conversion. During the quarter ended September 30, 2012, the Company issued 120,213,500 common shares
valued at $78,275 reducing the principal by $72,650 and accrued interest $5,625. During the quarter ended December
31, 2012 the Company issued 85,000,000 shares reducing the principal by $46,750 and accrued interest expense
during the quarter was $3713. During the quarter ended March 31, 2013 the Company issued 150,000,000 shares to
the Holder reducing the principal by $53,450 and accrued interest by $29,050. During the same quarter $3,000 of
interest accrued on the debenture. During the quarter ended September 30, 2013, the debenture accrued $2,254 of
interest. At September 30, 2013 the Company owed the Holder $90,150 in principal and $7,507 in accrued interest.
During the quarter ended December 31, 2013 the Holder converted $33,743 of principal into 61,350,909 common
shares and $7,507 of accrued interest expense into 13,649,091 of common shares. During the quarter ending March
31, 2014, the Company retired $22,000 of debenture principal for the issuance of 40,000,000 common shares and
$3,590 of accrued interest for 6,527,273 common shares. At March 31, 2014 the Company owed the Holder $34,407
in principal and no accrued interest.

On November 30, 2012, the Company reduced its loans from shareholders by $120,000 by issuing a $120,000
convertible debenture to a financial consultant of the Company for his services from January 1, 2011 thru December
31, 2011. The debenture accrues interest at 10% per annum and will convert into the company’s common stock at
50% of the lowest closing bid price 360 trading days before the conversion date. The Holder is restricted from any
conversions that would result in the Holder owning over 9.9% of the outstanding common shares of the Company after
the conversion. Accrued interest expense during the quarter ended September 30, 2013 resulted in the Company
owing $120,000 in principal and $10,000 in accrued interest. During the quarter ended December 31, 2013, the Holder
converted into 56,818,182 common shares reducing the principal by $31,250 and 18,181,818 common shares for
$10,000 of accrued interest. Interest of $2,609 accrued during the quarter resulting the principal balance being
$88,750 and accrued interest being $2,609 at December 31, 2013. During the quarter ending March 31, 2014, the
Company retired $24,891 of debenture principal for the issuance of 45,256,364 common shares and $2,609 of
accrued interest for 4,743,636 common shares. At March 31, 2014 the Company owed the Holder $63,859 in principal
and $1,596 of accrued interest.


On June 30, 2013, the Company reduced its loans from shareholders by $240,000 by issuing a $240,000 convertible
debenture to a financial consultant of the Company for his services from July 1, 2012 thru June 30, 2013. The
debenture accrues interest at 10% per annum and will convert into the company’s common stock at 50% of the lowest
closing bid price 360 trading days before the conversion date. The terms of the conversion are the same as the
consultant’s terms of conversion for the shares earned during each quarter in which the services were rendered. The
Holder is restricted from any conversions that would result in the Holder owning over 9.9% of the outstanding common
shares of the Company after the conversion. During the quarters ended September 30, 2013, December 31, 2013 and
March 31, 2014 the debenture accrued $6,000 of interest in each respective quarter. At March 31, 2014, the
debenture had $240,000 of principal and $18,000 of accrued interest outstanding.

On June 30, 2013, the Company reduced its loans from shareholders by $59,167 by issuing a $59,167 convertible
debenture to a financial consultant of the Company for expenses paid from January 1, 2012 thru June 30, 2012. The
debenture accrues interest at 10% per annum and will convert into the company’s common stock at 50% of the lowest
closing bid price 360 trading days before the conversion date. The terms of the conversion are the same as the terms
of conversion in the grid note for each advance. The Holder is restricted from any conversions that would result in the
Holder owning over 9.9% of the outstanding common shares of the Company after the conversion. During the quarters
ended September 30, 2013, December 31, 2013 and March 31, 2014 the debenture accrued $1,479 of interest in
each respective quarter. At March 31, 2014, the debenture had $59,167 of principal and $4,438 of accrued interest
outstanding.

On October 1, 2013, the Company reduced its accounts payable by $217,293 by issuing a convertible debenture in
the same amount to the Company for expenses paid on behalf of Tranzbyte from July 1, 2013 thru September 30,
2013. The debenture accrues interest at 10% per annum and will convert into the company’s common stock at 50% of
the lowest closing bid price 18 months before the conversion date. The terms of the conversion are the same as the
terms of conversion in the note for each advance. The Holder is restricted from any conversions that would result in
the Holder owning over 9.9% of the outstanding common shares of the Company after the conversion. During the
quarter ended December 31, 2013 and march 31, 2013 the debenture accrued $5,432 of interest in each respective
quarter. At March 31, 2014, the debenture had $217,293 of principal and $10,864 of accrued interest outstanding.

On October 1, 2013, the Company issued a $10,000 convertible debenture for a $10,000 cash advance on September
16, 2013 to one of its subsidiaries for it’s operation. The debenture accrues interest at 10% per annum and will convert
into the company’s common stock at 50% of the lowest closing bid price 18 months before the conversion date. The
terms of the conversion are the same as the terms of conversion in the note for each advance. The Holder is restricted
from any conversions that would result in the Holder owning over 9.9% of the outstanding common shares of the
Company after the conversion. During the quarters ended December 31, 2013 and March 31, 2014 the debenture
accrued $250 of interest in each respective quarter. At March 31, 2014, the debenture had $10,000 of principal and
$500 of accrued interest outstanding.

On November 15, 2013, the Company issued a debenture for $22,400 for cash advances in the same amount on the
same date for cash advances to one of its subsidiaries for it’s operation. The debenture accrues interest at 10% per
annum and will convert into the company’s common stock at 50% of the lowest closing bid price 18 months before the
conversion date. The terms of the conversion are the same as the terms of conversion in the note for each advance.
The Holder is restricted from any conversions that would result in the Holder owning over 9.9% of the outstanding
common shares of the Company after the conversion. At March 31, 2014
, the debenture had $22,400 of principal and $280 of accrued interest outstanding.

On December 30, 2013, the Company issued a debenture for $220,144 for cash advances in the same amount for
expenses paid on behalf of Tranzbyte from October 1, 2013 thru December 30, 2013. The debenture accrues interest
at 10% per annum and will convert into the company’s common stock at 50% of the lowest closing bid price 18
months before the conversion date. The terms of the conversion are the same as the terms of conversion in the note
for each advance. The Holder is restricted from any conversions that would result in the Holder owning over 9.9% of
the outstanding common shares of the Company after the conversion. At March 31, 2014, the debenture had
$217,293 of principal and no accrued interest outstanding.

On March 31, 2014, the Company issued a debenture for $164,015 for expenses paid on behalf of the Company
during the quarter ended March 31, 2014. . The debenture accrues interest at 10% per annum and will convert into the
company’s common stock at 50% of the lowest closing bid price 18 months before the conversion date. The terms of
the conversion are the same as the terms of conversion in the note for each advance. The Holder is restricted from
any conversions that would result in the Holder owning over 9.9% of the outstanding common shares of the Company
after the conversion.

On March 31, 2014, the Company issued a debenture for $220,000 for expenses paid on behalf of the Company
during the quarter ended March 31, 2014. The debenture accrues interest at 10% per annum and will convert into the
company’s common stock at 50% of the lowest closing bid price 18 months before the conversion date. The terms of
the conversion are the same as the terms of conversion in the note for each advance. The Holder is restricted from
any conversions that would result in the Holder owning over 9.9% of the outstanding common shares of the Company
after the conversion