SurgLine International Inc (SGLN)

[BBseller]

This is just some of the stock converted back when the price was much higher (Sep 11- jan 12) for 3 months worth. This same thing is going on now but at much lower prices which you will see in the next Q. IF you read through the Q below there is a lot of stock issued also for debt (at a discount) and the guys that facilitated the merger got 500m shares at zero cost basis.

http://ih.advfn.com/p.php?pid=nmona&article=51642922


Shares issued for conversion of subordinated debentures, accrued interest and fees



From September 2, 2011 through January 31, 2012 the Company issued 233,280,233 shares of common stock upon the conversion of $163,000 of debentures. The Company issued 14,304,615 shares of common stock for $11,621 of unpaid interest on the debentures and also 3,000,000 shares of common stock for $1,500 of services. The shares were issued at an average price of approximately $0.0007 per share.



Shares issued for conversion of convertible notes



In November 2011, the Company issued $100,000 in convertible notes to seven investors. The notes convert at a discount equal to 50% of the average of the lowest three trading prices per share of the Company’s common stock for the ten (10) trading days immediately preceding the date of conversion. Accordingly, in November 2011, upon the Company receiving Conversion Notices on the $100,000 convertible notes from the noteholders, the Company issued 146,853,147 shares of restricted common stock.

The shares were issued at $0.00068 per share. In connection with the issuance of common stock the Company realized a beneficial conversion expense of $223,776 for the three and six months ended January 31, 2012.