Eco Building Products Inc. (fka ECOB)

[Long-vestor]

Not a chance in hell. Did you bother to read the last 10Q?? And July 10 "leakout agreement"?


10Q disclosure of convertible preferred C notes:
"Potential common shares at March 31, 2015 from preferred C shares convertible into 9.7 billion post-split (193.9 billion pre-split) shares of common stock,"

PPS on March 31 2015, I believe it hit higher but pretty sure it closed @ .0054, so the 10Q notes would use that figure to calculate how many shares the preferred C's convert into. .0054 x 9.7 billion shares {Post split) is 52.3 MILLION DOLLARS!!




Now refer to the leak out agreement on July 10 2015: http://www.sec.gov/Archives/edgar/data/1409885/000112785515000304/ecobexh10_2.htm

"""WHEREAS, the Series C Preferred provided the Holders with the right to convert the principal balance and accrued interest due pursuant to the Series C Preferred into shares of common stock of the Company (“Common Stock”);

2. Increase in Authorized Common Stock. Should at any time during the effectiveness of this Agreement, the amount of shares held in reserve be insufficient to accommodate the conversions provided for below, within forty-five (45) days of the Holders notifying the Company of such deficiency, the Company hereby agrees to affect, or, within a commercially reasonable period of time, use its best efforts to take the necessary actions to affect, an increase in its authorized Common Stock or approve corporate action that would have the same result (the “Increase”) that provides the authorization for the Company to issue at least such additional shares as is required to have reserved two times the number of shares that is actually issuable upon full conversion of the then remaining balance of the Series C Preferred, and to place those shares in reserve with its Transfer Agent for the Holders benefit. The Increase is to be effectuated by way of filing an amendment to its certificate of incorporation with the Secretary of State of the State of Nevada. The Company shall effect the Increase pursuant to applicable federal and state laws, including but not limited to obtaining any requisite approvals, providing any requisite notice, and/or making any requisite filings with the appropriate federal and state authorities.



Discover the accuracy of the quoted notes in the last 10Q here:

http://www.sec.gov/Archives/edgar/data/1409885/000112785515000206/ecob10q033115.htm#notes

2. Summary of Significant Accounting Policies

Loss Per Share

Basic net loss per share is determined by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per share is determined by dividing net loss by the weighted average number of common shares used in the basic loss per share calculation plus the number of common shares that would be issued assuming conversion of all potentially dilutive securities outstanding under the treasury stock method. Potential common shares at March 31, 2015 from preferred C shares convertible into 9.7 billion post-split (193.9 billion pre-split) shares of common stock, and convertible notes convertible into 712.6 million post-split (14.3 billion pre-split) shares of common stock, (March 31, 2014 – 6.7 billion pre-split). Accordingly, total common share equivalents of 10.4 billion were excluded in the computation of diluted net loss per share for the three and nine months ended March 31, 2015, because the effect would be anti-dilutive.