Livewire Ergogenics Inc (LVVV)

[doesitreallymatter]

On February 19, 2014, the Company entered into an agreement with a third party non-affiliate to a 8% interest bearing convertible debentures for $78,500 due on November 16, 2014, with conversion features commencing after 180 days following the date of this note. The loan is convertible at 58% of average of the lowest three trading prices for the common stock during the ten trading day prior to the conversion date. In connection with this debenture, the Company recorded a $78,500 discount on debt, related to the beneficial conversion feature of the note to be amortized over the life of the note or until the note is converted or repaid. As of June 30, 2014 this note has not been converted.

Taken directly from page 17 of the last 10Q, this is referred to as toxic financing. When this thing converts, and it will in a few short weeks, expect another 8-10 million shares to hit the float and market. And, since we know LVVV will file at the last possible moment on November 19, 2014, we should know the status of the note. Oh, wait. This is LVVV, so probably not.