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Tuesday, August 16, 2016 5:43:36 AM
SPO Global has received in writing from a UK based company called Cloudload.io stating it is currently looking at acquiring a business with IP in the space of performance testing and monitoring.
There is NO mention of their even considering SPOM.
Cloudload is backed by a well-established team of directors and is funded by the Venture Capital Fund , Mercier Fund Management. More information can be found at : www.cloudload.io
Cloudload does have a small VC funding it, but nothing to do with SPOM. In fact Cloudload already provides the same services as SPOM.
SPO Global confirms after a number of discussions between the companies that it has written to Cloudload today, and informed them that it is seeking a cash offer in excess of $0,005 per common share. SPO Global authorized common shares is 748 Million.
It appears that Cloudload did not contact SPOM, but SPOM contacted Cloudload and told them SPOM wanted $.005/share. Perhaps saying they "wanted" $1/share would have made it too unbelievable.
SPO Global wishes to make clear to all shareholders that this expression of interest is contingent that the company, Cloudload.io, is able to obtain financing and contingent on legal and technical due diligence and board approval.
So far SPOM has expressed an interest in being acquired only. It's also contingent on Cloudload expressing even a vague interest in SPOM, which apparently has not happened yet, since indeed there's not even an MOU between the 2 companies.
Then take a look at SPOM's recent toxic notes, all providing a 75% discount when converting shares from debt.
On May 16, 2016, the Company entered into a convertible loan agreement with an investor pursuant to which the Company received a loan in the principal amount of $25,000. The loan matures one year from the date of the loan and bears interest at a per annum rate of 10%. The principal and accrued interest is convertible into common stock of the Company at a conversion rate of 25% of the prevailing per share market price. As of June 30, 2016 the principal balance and accrued interest payable was $25,308. As of June 30, 2016 a derivative liability in the amount of $94,929 was recorded for the conversion feature. The fair value of the conversion feature was calculated using Black-Scholes and the following assumptions, estimated life of less than 1 year, volatility of 343%, risk free interest rate of 0.58%, and dividend yield of 0%.
On May 27, 2016, the Company entered into a convertible loan agreement with an investor pursuant to which the Company received a loan in the principal amount of $30,000. The loan matures one year from the date of the loan and bears interest at a per annum rate of 10%. The principal and accrued interest is convertible into common stock of the Company at a conversion rate of 25% of the prevailing per share market price. As of June 30, 2016 the principal balance and accrued interest payable was
$30,279. As of June 30, 2016 a derivative liability in the amount of $114,359 was recorded for the conversion feature. The fair value of the conversion feature was calculated using Black-Scholes and the following assumptions, estimated life of less than 1 year, volatility of 343%, risk free interest rate of 0.58%, and dividend yield of 0%.
On May 27, 2016, the Company entered into a convertible loan agreement with an investor pursuant to which the Company received a loan in the principal amount of $23,000. The loan matures one year from the date of the loan and bears interest at a per annum rate of 10%. The principal and accrued interest is convertible into common stock of the Company at a conversion rate of 25% of the prevailing per share market price. As of June 30, 2016 the principal balance and accrued interest payable was $23,214. As of June 30, 2016 a derivative liability in the amount of $87,675 was recorded for the conversion feature. The fair value of the conversion feature was calculated using Black-Scholes and the following assumptions, estimated life of less than 1 year, volatility of 343%, risk free interest rate of 0.58%, and dividend yield of 0%.
On June 29, 2016, the Company entered into a convertible loan agreement with an investor pursuant to which the Company received a loan in the principal amount of $18,500. The loan matures one year from the date of the loan and bears interest at a per annum rate of 10%. The principal and accrued interest is convertible into common stock of the Company at a conversion rate of 25% of the prevailing per share market price. As of June 30, 2016 the principal balance and accrued interest payable was $18,505. As of June 30, 2016 a derivative liability in the amount of $71,002 was recorded for the conversion feature. The fair value of the conversion feature was calculated using Black-Scholes and the following assumptions, estimated life of less than 1 year, volatility of 343%, risk free interest rate of 0.58%, and dividend yield of 0%.
TA - Over $500 million in toxic funded pump and dumps exposed and growing every day!
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