Blue Biofuels Inc (BIOF)

[LTE]

This is from the 10-Q for the quarter ending on June 30, 2016.
It doesn't say anything about restrictions once the shares
become convertible - which was 180 days from April 25. So
that means that it's OK to convert them on October 25, 2016:

<<On April 25, 2016, the Company entered into a 12 month convertible debenture with JMJ Financial with a principal balance of $555,556. The note carries a 10% one-time interest charge, a 10% original issue discount and a 75% warrant coverage. The note may only be paid up to 98% of the balance due within the first 180 days at a 30% premium. After 180 days, the note cannot be repaid without the holders consent. The note is convertible after 180 days at a 25% discount to the lowest trade price in the preceding 10 trading days. To obtain the note, the Company issued the investor 1,388,886 warrants with a 5 year term and a cashless exercise price equal to the lesser of $0.30 per share or the lowest trade price in the 10 preceding trading days. As of June 30, 2016, using a Black-Scholes asset pricing model, these warrants were valued at $471,303.>>

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11676959

Too bad for ALLM shareholders that the company doesn't
have the quarterly conference calls with Q&A to answer all
of these discrepancies. In fact, De Leige promised to do just
that over a year ago when he said quarterly conference calls with
Q&A would become a regular occurrence. Instead ALLM posts videos
on Facebook where some only have about 50 views - what a joke!