Here are 2 examples straight from last quarter of two notes with balance still remaining as of June 30th... Who knows if or when the remaining balance will be converted to shares. FYI the next note maturity date is October 9th... I see someone has read the filings LMAO.
On December 3, 2013, NYBD Holding, Inc sold and issued a Convertible Promissory Note to JMJ Financial for the principal amount of $20,000 pursuant to the terms of a Securities Purchase Agreement of even date therewith. The note has a deduction for legal expense for a net total payout of $14,900. The Note, together with accrued interest at the annual rate of twelve (12%), is due on June 3, 2014. The Note is convertible into the Company's common stock commencing one hundred eighty (180) days from the date of issuance at a conversion price equal to 60% of the lowest closing bid price of the Company's common stock for the twenty prior trading days including the date of conversion. The Company has the right to prepay the Note at any time from the date of issuance until the note is paid in full at an amount equal to 150% of the then outstanding principal amount of the Note, including accrued and unpaid interest due on the prepayment date. During the nine months ending June 30, 2014, JMJ Financial converted $9,000 of the debt into 90,000,000 shares of the Company’s common stock. As of June 30, 2014, the remaining balance on this note is $11,000 plus $11 in accrued interest.
On January 7, 2014, NYBD Holding, Inc sold and issued a Convertible Promissory Note to Asher Enterprises, Inc. in the principal amount of $26,000 pursuant to the terms of a Securities Purchase Agreement of even date therewith. The Note, together with accrued interest at the annual rate of eight (8%), is due on October 9, 2014. The Note is convertible into the Company's common stock commencing one hundred eighty (180) days from the date of issuance at a conversion price equal to 45% of the Market Price of the Company's common stock on the date of conversion. "Market Price" is defined in the Note as the average of the lowest three (3) trading prices for the Company's common stock during the ten (30) trading days prior to the conversion date. The Company has the right to prepay the Note at any time from the date of issuance until the 180th day the Note was issued at an amount equal to 150% of the then outstanding principal amount of the Note, including accrued and unpaid interest due on the prepayment date. As of June 30, 2014, the remaining balance on this note is $26,000 plus $992 in accrued interest.
On January 17, 2014, NYBD Holding, Inc sold and issued a Convertible Promissory Note to Redwood Management, LLC, Inc. in the principal amount of $50,000 pursuant to the terms of a Securities Purchase Agreement of even date therewith. The Note, together with accrued interest at the annual rate of ten (10%), is due on July 17, 2014. The Note is convertible into the Company's common stock commencing one hundred eighty (180) days from the date of issuance at a conversion price equal to 50% of the Market Price of the Company's common stock on the date of conversion. "Market Price" is defined in the Note as the average of the lowest three (3) trading prices for the Company's common stock during the ten (30) trading days prior to the conversion date. As of June 30, 2014, the balance remaining on the Convertible Promissory Note is $50,000. The Company recorded accrued interest in the amount of $2,247 pursuant to this Convertible Promissory Note
On February 20, 2014, NYBD Holding, Inc sold and issued a Convertible Promissory Note to Asher Enterprises, Inc. in the principal amount of $32,500 pursuant to the terms of a Securities Purchase Agreement of even date therewith. The Note, together with accrued interest at the annual rate of eight (8%), is due on October 9, 2014. The Note is convertible into the Company's common stock commencing one hundred eighty (180) days from the date of issuance at a conversion price equal to 45% of the Market Price of the Company's common stock on the date of conversion. "Market Price" is defined in the Note as the average of the lowest three (3) trading prices for the Company's common stock during the ten (30) trading days prior to the conversion date. The Company has the right to prepay the Note at any time from the date of issuance until the 180th day the Note was issued at an amount equal to 150% of the then outstanding principal amount of the Note, including accrued and unpaid interest due on the prepayment date. As of June 30, 2014, the balance remaining on the Convertible Promissory Note is $32,500. The Company recorded accrued interest in the amount of $926 pursuant to this Convertible Promissory Not
DON'T DECEIVE INVESTORS IF YOU HAVE NOT READ THE QUARTERLY YOURSELF. THERE IS A DIFFERENCE BETWEEN STATING FACTS AND OPINIONS, AND I SUGGEST YOU DO SOME MORE DD ON THIS.
