InvestorsHub Logo
Followers 1512
Posts 34973
Boards Moderated 8
Alias Born 07/12/2004

Re: None

Wednesday, 09/21/2016 6:06:45 PM

Wednesday, September 21, 2016 6:06:45 PM

Post# of 14166
IFLM Loans and Defaulted loans: (excerpts from the 10Q for period ending March 31,2016)

Sidenote: With all the celebrity power purportedly involved with IFLM and C2C Restaurant one should wonder why no celebrity (eg., Jamie Foxx pictured with Chef Eddie) has offered to be an investor or partner with cold hard cash. Seriously.....why not? Chef Eddie had to loan IFLM $82,231. Don't wanna be too picky, but OMG!!!

On April 9, 2012, the Company entered into a $100,000 convertible debenture with Neil Linder. (50% discount) As of March 31, 2016, $86,050 of the principal face value of the Debenture remains outstanding along with $336,275 of accrued penalties and interest. This note is currently in default. My notes: YIKES....4 freakin years and blue chip IFLM still owes $336,275.

On April 28, 2014, the Company issued a Convertible Promissory Note to KBM Worldwide, Inc. in the amount of $37,500. (42% discount) As of March 31, 2016, there is $4,045 of principal and $8,074 of accrued interest due on this note. This note is currently past due.

On June 25, 2014, the Company issued a Convertible Promissory Note to LG Capital Funding, LLC, in the amount of $47,500. As of March 31, 2016, there is $27,400 of principal and $5,735 of accrued interest due on this note. This note is currently past due.

On July 17, 2014, the Company issued a Convertible Promissory Note to KBM Worldwide, Inc. in the amount of $37,500. (42 % discount) As of March 31, 2016, there is $37,500 of principal and $10,374 of accrued interest due on this note. This note is currently past due.

On March 19, 2015, the Company executed a convertible promissory note for $7,500 with John D Thomas in exchange for legal services. As of March 31, 2016 there is $7,500 of principal and $77 of accrued interest due on this note.

On May 18, 2015, the Company executed a convertible promissory note for $16,700 with Syndicate Consulting, Inc. As of March 31, 2016 there is $16,700 of principal and $1,917 of accrued interest due on this note.

On May 20, 2015, the Company executed a convertible promissory note for $5,925 with Syndicate Consulting, Inc. As of March 31, 2016 there is $5,925 of principal and $300 of accrued interest due on this note.

The BIGGIE:

On February 17, 2016, the Company issued a Convertible Promissory Note to T McNeil Advisors, LLC, in the amount of $217,500. (55% discount)
As of March 31, 2016, there is $217,500 of principal and $2,050 of accrued interest due on this note.

On March 1, 2016, the Company issued a Convertible Promissory Note to LG Capital Funding, LLC, in the amount of $39,375. (50% discount) As of March 31, 2016, there is $39,375 of principal and $250 of accrued interest due on this note.

On March 1, 2016, the Company issued a Convertible Promissory Note to Cerberus Finance Group, LTD, in the amount of $39,375. (50% discount)
As of March 31, 2016, there is $39,375 of principal and $250 of accrued interest due on this note.

Third Party:

On September 25, 2015, the Company executed a promissory note with a shareholder for $30,000. This note is in default

As of March 31, 2016 and September 30, 2015, the Company owed a total of $9,244 and $9,243, respectively to various third parties. All amounts are due on demand.

On January 15, 2016, the Company executed a promissory note with a third party for $15,000. As of March 31, 2016, $15,000 of principle and $312 of interest remain outstanding.

And what the heck is up with this?

During the six months ended March 31, 2016, Edward Gallagher, owner/operator of C2C restaurant Group, Inc. advanced the Company $82,231 to pay for expenses related to the setup and opening of the restaurant. The advance is unsecured, non-interest bearing and due on demand. As of March 31, 2016, $82,231 remains outstanding.

NOTE 7: COMMON STOCK TRANSACTIONS:

***Lots of conversions during 2015 AFTER the one for 2,500 reverse split.


Fiscal year 2016

On October 1, 2015, the transfer agent issued 49,934,783 shares of common stock to Jabro Funding Corp valued at $22,970. (.00045 PPS)

On October 1, 2015, the Company issued 7,123,060 shares of common stock to LG Capital Funding in conversion of $3,000 of principal and $305 of interest due to them. (.00042 PPS)

On October 6, 2015, the transfer agent issued 10,000,000 shares of common stock to VanCal Partners, LLC valued at $500. (.00005 PPS)

On October 13, 2015, the Company issued 40,000,000 shares of common stock to VanCal Partners, LLC in conversion of $2,000 of principal due to them.
(.00005 PPS)

On October 14, 2015, the Company issued 49,333,333 shares of common stock to Jabro Funding Corp in conversion of $7,490 of principal due to them.
(.00015 PPS)

On November 9, 2015, the Company issued 49,769,655 shares of common stock to LG Capital Funding in conversion of $2,600 of principal and $287 of interest due to them. (.00005 PPS)

On November 18, 2015, the Company issued 49,916,667 shares of common stock to Jabro Funding Corp in conversion of $2,995 of principal due to them. (.00006 PPS)

Preferred Shares: Series A, B, AA, F:

One word......YIKES!!!!!!!!!!!!!!!!!!!!!

https://www.sec.gov/Archives/edgar/data/1425883/000126246316001017/ifdc3311610q.htm


To bite the worm of incite is to bite the HOOK of the antagonist . They win .