Livewire Ergogenics Inc (LVVV)

[Drugdoctor]

And the DEATHSPIRAL convertibles are not being converted because the company is delinquent with financials, not allowed to dump stocks here.

The catch 22 is, if they get current, then ASHER, yes the dreaded ASHER - holds tons of deathspirals... Are you saying those have been paid back?

I don't think so... with WHAT money?


NOTE 9 – NOTES PAYABLE

On April 22, 2014, the Company issued a non-interest bearing promissory note for $206,341 to a related party as settlement of the accounts payable- related party. The principal is payable every 90 days beginning on September 30, 2014 at the rate of $25,000 per quarter until the balance is zero. As of September 30, 2015, the remaining balance of this note payable is $196,341. This note is technically in default but the Company has an understanding with the note holder that payments will be made when the Company is able to do so.

On April 22, 2014, the Company issued a promissory note for $150,000 to a third party for cash, which is due on October 22, 2014. Interest accrued at a rate of 12% per annum. Monthly interest payments of $1,500 is payable every 30 days beginning on May 22, 2014. This note is technically in default but the Company has an understanding with the note holder that payments will be made when the Company is able to do so.

On August 13, 2014, the Company issued a promissory note for $10,000 to a third party for cash, which is due on August 13, 2015. Annual compounded interest accrues at a rate of 6%, per annum. This note is technically in default but the Company has an understanding with the note holder that payments will be made when the Company is able to do so.

On December 31, 2014, the Company issued a promissory note for $10,000 to a third party for cash, which is due on June 30, 2015. Annual compounded interest accrues at a rate of 8%, per annum. This note is technically in default but the Company has an understanding with the note holder that payments will be made when the Company is able to do so.

On February 23, 2015, the Company issued a promissory note for $5,000 to a third party for cash, which is due on August 30, 2015. Annual compounded interest accrues at a rate of 8%, per annum. This note is technically in default but the Company has an understanding with the note holder that payments will be made when the Company is able to do so.

On March 19, 2015, the Company issued a promissory note for $5,000 to a third party for cash, which is due on September 30, 2015. Annual compounded interest accrues at a rate of 8%, per annum. This note is technically in default but the Company has an understanding with the note holder that payments will be made when the Company is able to do so.

On April 3, 2015, the Company issued a promissory note for $6,000 to a third party for cash, which is due on October 30, 2015. Annual compounded interest accrues at a rate of 8%, per annum.

As of September 30, 2015, the remaining balance for notes payable totaled $251,700.

As of September 30, 2015 and December 31, 2014, the Company had accrued interest of $46,767 and $30,192 respectively, related to notes payable, which is included in accounts payable and accrued expenses on the condensed consolidated balance sheets.


NOTE 10 – CONVERTIBLE NOTES PAYABLE

At September 30, 2015 and December 31, 2014 convertible debentures consisted of the following:

September 30, 2015 December 31, 2014
(Unaudited)
Convertible notes payable $ 306,250 $ 323,500
Unamortized debt discount (23,504 ) (78,722 )
Total $ 282,746 $ 244,778

NOTE 12 – STOCKHOLDERS’ DEFICIT

Common Stock

On February 3, 2015, the Company issued 2,448,980 shares of common stock valued at $0.0049 per share totaling $12,000 for partial conversion of a $53,000 convertible note.

On February 20, 2015, the Company issued 7,703,125 shares of common stock valued at $0.0032 per share totaling $24,650 for partial conversion of a $53,000 convertible note.

On February 26, 2015, the Company issued 6,156,667 shares of common stock valued at $0.0030 per share totaling $16,350 in principal and $2,120 in accrued interest for the remaining conversion of a $53,000 convertible note.

On March 13, 2015, the Company issued 7,705,000 shares of common stock valued at $0.0020 per share totaling $15,410 for partial conversion of a $83,500 convertible note.

On March 19, 2015, the Company issued 7,705,263 shares of common stock valued at $0.0019 per share totaling $14,640 for partial conversion of a $83,500 convertible note.

On April 10, 2015, the Company issued 8,000,000 shares of common stock valued at $0.0025 per share totaling $20,000 for partial conversion of a $125,000 convertible note.

On April 21, 2015, the Company issued 9,500,000 shares of common stock valued at $0.0025 per share totaling $23,750 for partial conversion of a $125,000 convertible note.

On May 11, 2015, the Company issued 10,214,706 shares of common stock valued at $0.0017 per share totaling $17,365 for partial conversion of a $83,500 convertible note.

On June 23, 2015, the Company issued 10,189,873 shares of common stock valued at $0.0008 per share totaling $8,050 for partial conversion of a $83,500 convertible note.

On July 16, 2015, the Company issued 10,214,286 shares of common stock valued at $0.0007 per share totaling $7,150 for partial conversion of a $83,500 convertible note.

On July 20, 2015, the Company issued 10,214,286 shares of common stock valued at $0.0007 per share totaling $7,150 for partial conversion of a $83,500 convertible note.

On July 23, 2015, the Company issued 10,211,538 shares of common stock valued at $0.0005 per share totaling $5,310 for partial conversion of a $83,500 convertible note.

On July 28, 2015, the Company issued 10,204,545 shares of common stock valued at $0.0004 per share totaling $4,490 for partial conversion of a $83,500 convertible note.

On August 3, 2015, the Company issued 10,202,703 shares of common stock valued at $0.0004 per share totaling $3,775 for partial conversion of a $83,500 convertible note.

18


On August 10, 2015, the Company issued 10,206,897 shares of common stock valued at $0.0003 per share totaling $2,960 for partial conversion of a $83,500 convertible note.

On August 19, 2015, the Company issued 14,304,348 shares of common stock valued at $0.0002 per share totaling $3,290 for partial conversion of a $83,500 convertible note.

On August 25, 2015, the Company issued 14,304,348 shares of common stock valued at $0.0002 per share totaling $3,290 for partial conversion of a $83,500 convertible note.

On August 31, 2015, the Company issued 14,333,333 shares of common stock valued at $0.0002 per share totaling $3,010 for partial conversion of a $83,500 convertible note.

On September 2, 2015, the Company issued 14,323,529 shares of common stock valued at $0.0002 per share totaling $2,435 for partial conversion of a $83,500 convertible note.

On September 9, 2015, the Company issued 14,323,529 shares of common stock valued at $0.0002 per share totaling $2,435 for partial conversion of a $83,500 convertible note.

On September 15, 2015, the Company issued 14,323,529 shares of common stock valued at $0.0002 per share totaling $2,435 for partial conversion of a $83,500 convertible note.

On September 16, 2015, the Company issued 14,323,529 shares of common stock valued at $0.0002 per share totaling $2,435 for partial conversion of a $83,500 convertible note.

On September 18, 2015, the Company issued 14,323,529 shares of common stock valued at $0.0002 per share totaling $2,435 for partial conversion of a $83,500 convertible note.

On September 25, 2015, the Company issued 14,323,529 shares of common stock valued at $0.0002 per share totaling $2,435 for partial conversion of a $83,500 convertible note.

NOTE 14 – SUBSEQUENT EVENTS

The Company evaluated subsequent events through the date the unaudited condensed consolidated financial statements were available to be issued as follows:

Conversions:

On October 1, 2015, the Company converted $2,005 of debt into 14,321,429 shares of common stock valued at $0.00014 per share for partial conversion of accrued interest of a $83,500 convertible note.

On October 22, 2015, the Company converted $1,060 of debt into 8,833,333 shares of common stock valued at $0.00012 per share for remaining conversion of accrued interest of a $83,500 convertible note.

On November 17, 2015, the Company issued a promissory note for $30,000 to a third party for cash, which is due on May 17, 2016 (“Maturity Date”). Annual simple interest accrues at a rate of 20%, per annum. In addition, the Company issued restricted shares of common stock equal to $50,000,that will be convertible to freely tradeable shares at Maturity Date.


https://www.sec.gov/Archives/edgar/data/1421289/000149315215005796/form10-q.htm