SunWorks Inc (SUNWQ)

[MarketShark]

Sure.
http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=9992935

Becoming convertible July 29th:

"On January 29, 2014, the Company entered into a securities purchase agreement providing for the sale of a 10% convertible promissory note in the principal amount of up to $100,000. Upon execution of the note, the Company received an initial advance of $90,000. The note is convertible into shares of common stock of the Company at a price equal to a variable conversion price equal to the lesser of $0.013 per share, or fifty percent (50%) of the lowest trading price after the effective date. The note matures six (6) months from the effective date of each advance with respect to each advance. The Company recorded amortization of debt discount, which was recognized as interest expense in the amount of $8,333 at March 31, 2014."

So that's roughly 7.6M shares that will be sold into the float starting next week.


Becoming convertible October 31st:

On January 31, 2014, the Company entered into a securities purchase agreement providing for the sale of a 10% convertible promissory note in the principal amount of up to $500,000, for consideration of $500,000. The proceeds were restricted and were used for the purchase of Solar United Network, Inc. The note is convertible into shares of common stock of the Company at a price equal to a variable conversion price equal to the lesser of $0.05 per share, or fifty percent (50%) of the lowest trading price after the effective date. Also, if the Company issues any common stock resulting from conversion of another security, whether issued and outstanding before or after the effective date, at a net effective price per share below the conversion price issued to the lender, the price shall be adjusted to the lower conversion price. The note matures nine (9) months from the effective date of the note. The Company recorded amortization of debt discount, which was recognized as interest expense in the amount of $109,259 at March 31, 2014.

Roughly 10M extra shares to be purchased by the public.


There is also this acquisition note:

On January 31, 2014, the Company entered into a securities purchase agreement providing for the sale of four 4% convertible promissory notes in the aggregate principal amount of $1,750,000 as part of the consideration to acquire 100% of the total outstanding stock of SUN. The notes are convertible at any time after issuance into shares of fully paid and non-assessable shares of common stock. The conversion price is $0.02 per share until March 30, 2015, and thereafter the conversion price will be the greater of $0.02 or 50% of the average closing price of the common stock during the ten (10) consecutive trading days following the submission of the conversion notice. The Notes are five (5) year notes and bear interest at the rate of 4% per annum. In February and March 2014, $625,000 of the notes was converted into 31,250,000 shares of common stock, leaving a remaining balance of $1,125,000 as of March 31, 2014. The Company recorded amortization of the beneficial conversion feature as interest expense in the amount of $784,574 at March 31, 2014.


These notes are currently being sold to the public, there was 56M shares to be sold to the public March 31 2014. Impossible to know how many there are still for sale as of today. Could be 56M if they haven't sold any, and could be zero if they sold them all in 4 months.


On the positive side, with trading like today these notes will gladly be purchased by the public and not a large concern. If the buying pressure were to stop though, the owners of the convertible notes won't have mercy and won't care to bid whack. They are selling shares they got at $0.013 and $0.02 and selling them to us at $0.06+++.

I'm not posting this to bash the stock, it's just public information that should be taken into account by everyone!!
I personally bought $2,000 worth of SLTD today.