Only learned 2 things in addition to 39,082,505 shares issued now as about 10+% more at 388,411,392. Tough to finance much at .011 which is the 2nd thing learned. Typenex PPS discounted.
March 31, 2015
Closing share price
$0.0194
Conversion price
$0.011
Risk free rate
0.14%
Expected volatility
180%
Dividend yield
0%
Expected life
0.5 years
Reason they could sell below .01? Penalty gave them 60% more in shares than the original debt.
"fair value of the secured convertible promissory note derivative and warrant derivative liabilities is $449,963 at September 30, 2015. The decrease in the fair value of the derivative liabilities of $159,711 is recorded as a gain in the unaudited condensed consolidated statement of operations for the three months ended September 30, 2015."
Comes to about $175K on top of $275K debt. I see it as 38,878,455 shares ($427,663 @ .011).
First newbie? Since July 2 PT now draws $180K annual at $15K a month seeming a result of selling Caborca and will no doubt be in stock when it's worth what he's made it for us all. Fine by me! We'll see when he lists it with SEC. 8
Compensation
"July 2, 2015, the Company entered into a compensation agreement with Paul D. Thompson, the sole director and officer of the Company. Mr. Thompson is compensated $15,000 per month and has the option to take payment in Company stock valued at an average of 5 days closing price, cash payments or deferred payment in stock or cash. In additional, Mr. Thompson is due 2,000,000 shares of common stock valued at the 5 day average closing price each fiscal quarter. At September 30, 2015, $45,000 of compensation due is included in accounts payable – related party and $29,800 ($0.0149 per share) of stock due is included in share subscriptions payable."
