APT MotoVox Group Inc. (MTVX)

[$Pistol Pete$]

IRONRIDGE CONTINGENCY EXPLAINED >> READ

The total # of shares issued to IR to date was 1.2 billion shares. The following are the current contingencies for them:

Initial issuance: 435 million shares FMV $5,824,650
1st tranche: 250 million shares FMV $747,500
2nd tranche: 240 million shares FMV $645,600
3rd tranche: 275 million shares FMV $550,000 (estimated at 0,002 pps)
4th & final: 281 million shares FMV $3,810,000 (estimated at 0.01 pps)

What will most likely happen at the end of the calculation period is that the initial issuance of 435 million shares will be returned to MTVX.

The total estimated interest expense will be: $3,050,000

The company has ALREADY booked accruals hence we are not going to see a charge for an additional $3,050,000 in the next two quarters.

So, should anyone be complaining about the Ironridge settlement? NO. The cost of interest for elimination of $2.7 million in debt in ONE YEAR is VERY reasonable.

MTVX will go to 1c+ VERY SOON and my 381MM shares calculation at 1c as final tranche issuance to IR is CORRECT. If you look at the conversion price of the convertible notes issued in April 2014, maximum conversion is ~~0.0146 pps. Why do you think that is?

If you take the maximum conversion price and multiply by 1.63, you get 2.3c per share. This seems to suggest that MTVX is headed to +2c by October 2014.



$MTVX

Pistol Pete!