Bots Inc (BTZI)

[lesgetrich]

Again, folks should read the agreement before trying to knock it down. From Exhibit A of the Definitive Funding Agreement...

EXHIBIT A

Investment Schedule to PNTV

Below is the Investment Schedule from RxMM to PNTV:

1. Upon signing this LOI, $25,000 paid to Players Network Inc.

2. Within 14 days of signing this LOI $125,000 paid to Players Network Inc.

3. Upon Signing Definitive Agreement $350,000, not to exceed 30 days on a “best efforts” basis.

4. 60 days after signing the Definitive Agreement $2,000,000 on a mutually agreed draw down schedule on a “best efforts” basis.

The Definitive Agreement was signed on August 15, 2016. They should have already collected $500,000 with the balance available by October 15.

The $50,000 units were issued to facilitate conversion back to shares of common stock...

III. ARTICLE 3. Conversion

SECTION 3.1. Conversion Privilege...

c. Less than the entire principal amount of this Debenture may be converted into Common Stock if the portion converted is $2,500,000 or a whole multiple of $50,000 and the provisions of this Article 3 that apply to the conversion of the entire Debenture also apply to the conversion of any portion of it. All accrued interest on this Debenture shall be added to the amount converted if less than the entire principal amount of this Debenture is converted and shall be deemed to be paid and discharged thereby.