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Re: on-board post# 7284

Friday, 03/24/2017 3:53:37 PM

Friday, March 24, 2017 3:53:37 PM

Post# of 11777
Convertible notes due April will sink this POS...

Definition-->

A convertible note is a form of short-term debt that converts into equity, typically in conjunction with a future financing round; in effect, the investor would be loaning money to a startup and instead of a return in the form of principal plus interest, the investor would receive equity in the company.

"Converts into EQUITY." That's precisely what Blackbridge Capital did... converted their debt into deeply discounted shares (@ .0001) and dumped them onto the market. These toxic financiers know they can make many MANY times more than the principal amount of their loan by doing this!

Imo HWAL can't simply just pay them off with $42,500 + interest even if they had it. These lenders are entitled to shares at whatever deeply discounted deal HWAL agreed to. With the A/S maxed out about all that's left is for the company to print more shares. They can do this any time they like. That is unless these shares are sitting in the restricted group. Either way it seems a ton of shares are set to bomb the market.

Take a minute and go look at there convertible notes that they were paying. In there share holders letter they said there 2q or would look better.

"Convertible Note Payable in the amount of $16,000 dated April, 30, 2016 bearing interest at 5% per year, Note Due and payable April 30, 2017

Convertible Note Payable in the amount of $26,500 dated April, 15, 2016 bearing interest at 5% per year, Note Due and payable April 15, 2017

Loans and Exchanges"


All of there notes over the last few years are done cleaned up the last 2 are about to be paid off. I couldn't find any recent new loans being taken out. This is old news but I believe it's very important and may have been over looked.


My "opinion" is as valid as your "hearsay"