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Re: LGL8054 post# 52252

Sunday, 12/21/2014 11:08:14 PM

Sunday, December 21, 2014 11:08:14 PM

Post# of 111918
If Magna / Hanover is not included in your $4+ millions then I am afraid you are wrong.
It is stated clearly that Total debt/ liabilities is $4+ millions buddy. It did not say portion/partial, it stated total.

On April 29, 2014, the Company closed a private placement whereby it entered into a securities purchase agreement, dated April 29, 2014 (the “Purchase Agreement”), with Magna Equities II, LLC (formerly Hanover Holdings I, LLC) (“Magna”), an affiliate of Magna Group. Pursuant to the Purchase Agreement, the Company sold Magna four (4) 8% senior convertible promissory notes in aggregate principal amount of $1,342,391.17 million (collectively, the “Convertible Notes”, or individually, a “Convertible Note”) due twelve months from the date of the Convertible Notes’ issuance. The Convertible Notes were purchased by Magna for $1,235,000. A copy of the Purchase Agreement and the Convertible Notes are attached as Exhibits to the Current Report on Form 8-K, filed by the Company with the U.S. Securities Exchange Commission on May 6, 2014.

$1.342391.17 is part of the $4+ millions payables notes buddy.
THERE IS NO $6 + MILLIONS notes payables.

Long and strong VPOR