Speedemissions Inc. (SPMI)

[wEaReLeGiOn]

Try again, that's not the question.

I posted this about 2 weeks ago. Since that time the PPS has dropped further. The shares aren't eligible to be sold until April 23, 2014 at the earliest.

Now with the PPS @ $0.0121-- 8,246,624 will be needed to satisfy the $100,000 "fee". That's an additional 6,171,935 on top of the original amount of shares issued by SPMI (2,074,689 shares) for the same $100k on October 23, 2013.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=959645



http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9569865

Upon the closing of the additional loan pursuant to the Second Amended Credit Agreement, we paid TCA an advisory fee of $100,000 which was paid through the issuance of 2,074,689 shares of our common stock. In the event TCA does not receive at least $100,000 in net proceeds from the sale of those advisory shares, we are obligated to issue TCA additional shares of our common stock in an amount sufficient, that when sold, provides net proceeds to TCA equal to the $100,000 advisory fee. We are using the net proceeds for an acquisition and general administrative expenses.

$100,000 divided by 2,074,689 shares= $0.048 per share at the time of this agreement.

At today's PPS of $0.0175, 5,714,285 shares will need to be issued to satisfy the $100,000 payment. If the shares are restricted for six months, this $100,000 payment from a fractured penny could balloon to tens of millions of shares.

Just imagine the sucking sound when they still need to pay the actual principal loan back.

Now the question is has that already been absorbed or not......