DD Support Board and Research Team

[stockmasterflash]

FBEC hiding $500k in NEW convertibles

Or else their new accountant misplaced a ZERO

Because the numbers for new convertible notes don't add up (no surprise) And when compared to the proxy in Jan, the total is up by $400k (see below)

Page 8

https://www.sec.gov/Archives/edgar/data/1311735/000101968716006470/fbec_10q-033116.htm

They disclose $65,000 in new notes, and claim there are $1.636 mm convertibles outstanding on Mar 31, up from $951k on Dec 31

1.636 mm minus 951k == 600k or so. they disclose 60k in new notes.

NOTE 6 – NOTES PAYABLE

In February 2016, the Company entered into a convertible debt agreement with a principal amount of $40,000 with 0% interest per annum. This note is convertible at a 38% discount to the lowest market price of the 15 days preceding the conversion request. This note becomes convertible at or after maturity. The default interest rate is 12% per annum.

In March 2016, the Company entered into a convertible debt agreement with a principal amount of $25,000 with 10% interest per annum. This note is convertible at a 70% discount to the lowest market price of the 20 days preceding the conversion request. These notes are convertible at any time at the option of the holder. The default interest rate is 12% per annum.

""FBEC has $1,284,274 of outstanding convertible promissory notes that are convertible into approximately 1,148,657,148 shares of common stock, based on the market price on January 29, 2016.""

http://www.sec.gov/Archives/edgar/data/1311735/000101968716005158/fbec_def14c.htm