That article was written in May 2015.
"On March 20th. a new lender Joshua Season's Magna Assets entered the picture"
"Note that Magna, as a new lender hasn't converted his note yet"
The truth is Magna was converting the balance of the TCA note since early March that Gel and Union hadn't yet converted at a rate of $25,000 bi weekly which is what caused the price to drop to $0.0002. And yes I bought a lot of those, thank you very much.
Accesswire Mar 5, 2015 7:19 AM
HJOE Settles Debit Moves Company Forward
DENVER, CO /ACCESSWIRE / March 5, 2015 / Hangover Joe's Holding Corporation (HJOE), the maker of "The Hangover" Recovery Shot and developers of an innovative state of the art proprietary Git-R-Done-Energy Shot with Git-R-Done Productions, Inc. and Larry the Cable Guy, is pleased to announce that it is implementing settlements with several creditors including the final provisions of its dispute with TCA Global Master Credit Fund, L.P.
The original $513,000 Settlement Agreement with TCA Global Master Credit Fund, L.P., includes GEL Properties LLC and Union Capital LLC, who each entered into Assignment and Assumption Agreements with TCA in the amount of $230,000 payable in four equal monthly installments and the Company agreed to pay TCA $53,000 sixty days after the final installments are paid under the Assignment and Assumption Agreements.
The Company simultaneously entered into Replacement Notes from TCA with GEL Properties LLC and Union Capital for the sale of 8% convertible redeemable notes in the principal amount of $57,500 each for their first installments.
All interest and principal under these notes was to be repaid on July 12, 2015 and are convertible into common stock, at the note holder's option, at a 45% discount to the average of the three lowest closing prices of the common stock during the 20 trading day period prior to conversion. Both Union Capital and GEL Properties paid their first two installments; under the most recent arrangement Magna Equities has agreed to pay the remaining amounts owed in $25,000 biweekly installments subject to certain conditions.
AI
