So with all the pumps a ton of investors claiming paper is being converted to be sold per last 10-Q: Here is a list of what shares were given out for debt
Note 6 – Notes Payable
The Company had notes payable totaling $2,644,425 face value as of June 30, 2014 and accrued interest of $137,455.
1
Investment Firm: $150,000 Note issued on May22, 2014, a corporation loaned the Company $150,000 in exchange for a Promissory Note bearing interest at 8% . The Lender is allowed to convert the promissory note into Company common shares. The accrued interest payable balance on this note and is included in the Convertible Promissory Notes – Accrued Interest Section of the Company’s balance sheet was as of June 30, 2014.
150,000.00 1,300.00
2
Investment Firm: $6,000 Note issued on November 22, 2011. A corporation loaned the Company $6,000 in exchange for a Promissory Note bearing interest at 10%. The Lender is allowed to convert the promissory note into Company common shares. The accrued interest payable balance on this note and is included in the Convertible Promissory Notes – Accrued Interest Section of the Company’s balance sheet was as of June 30, 2014.
6,000.00 1,585.00
3
Investment Firm: $32,500 Note issued on February 7, 2014. This corporation loaned the Company $32,500 in exchange for a Promissory Note bearing interest at 8%. The Lender is allowed to convert the promissory note into Company common shares. The accrued interest payable balance on this note and is included in the Convertible Promissory Notes – Accrued Interest Section of the Company’s balance sheet was as of June 30, 2014.
32,500.00 1,032.78
4
Investment Firm: $83,500 Note issued on February 25, 2014. This corporation loaned the Company $83,500 in exchange for a Promissory Note bearing interest at 8%. The Lender is allowed to convert the promissory note into Company common shares. The accrued interest payable balance on this note and is included in the Convertible Promissory Notes – Accrued Interest Section of the Company’s balance sheet was as of June 30, 2014.
83,500.00 2,319.44
5
Investment Firm: $50,000 Note issued on March 12, 2014. This corporation loaned the Company $50,00 in exchange for a Promissory Note bearing interest at 10%. The Lender is allowed to convert the promissory note into Company common shares. The accrued interest payable balance on this note and is included in the Convertible Promissory Notes – Accrued Interest Section of the Company’s balance sheet was as of June 30, 2014.
50,000.00 1,527.78
6
Investment Firm: $150,000 Note issued on March 18, 2014. This corporation loaned the Company $150,000 in exchange for a Promissory Note bearing interest at 18%. The Lender is allowed to convert the promissory note into Company common shares. The accrued interest payable balance on this note and is included in the Convertible Promissory Notes – Accrued Interest Section of the Company’s balance sheet was as of June 30, 2014.
150,000.00 7,800.00
7
Investment Firm: $11,027.10 Note issued on February 7, 2014. This corporation loaned the Company $11,027.10 in exchange for a Promissory Note bearing interest at 18%. The Lender is allowed to convert the promissory note into Company common shares. The accrued interest payable balance on this note and is included in the Convertible Promissory Notes – Accrued Interest Section of the Company’s balance sheet was as of June 30, 2014.
11,027.10 3,655.48
8
Investment Firm: $40,000 Note issued on April 30, 2014. This corporation loaned the Company $40,000 in exchange for a Promissory Note bearing interest at 18%. The Lender and is allowed to convert the promissory note into Company common shares, based on which, Lender converted on January 28, 2014 $7,150 of the note. The accrued interest payable balance on this note and is included in the Convertible Promissory Notes – Accrued Interest Section of the Company’s balance sheet was as of June 30, 2014.
31,000.00 6,997.05
9
Investment Firm: $21,739.13 Note issued on April 29, 2014. This corporation loaned the Company $21,739.13 in exchange for a Promissory Note bearing interest at 8%. The Lender is allowed to convert the promissory note into Company common shares. The accrued interest payable balance on this note and is included in the Convertible Promissory Notes – Accrued Interest Section of the Company’s balance sheet was as of June 30, 2014.
21,739.13 299.52
14
Note 6 – Notes Payable (continued)
10
Investment Firm: $364,130.43 Note issued on April 29, 2014. This corporation loaned the Company $364,130.43 in exchange for a Promissory Note bearing interest at 8%. The Lender is allowed to convert the promissory note into Company common shares. The accrued interest payable balance on this note and is included in the Convertible Promissory Notes – Accrued Interest Section of the Company’s balance sheet was as of June 30, 2014.
364,130.43 5,016.91
11
Investment Firm: $434,782.61 Note issued on April 29, 2014. This corporation loaned the Company $434,782.61 in exchange for a Promissory Note bearing interest at 8%. The Lender is allowed to convert the promissory note into Company common shares. The accrued interest payable balance on this note and is included in the Convertible Promissory Notes – Accrued Interest Section of the Company’s balance sheet was as of June 30, 2014.
434,782.61 5,990.34
12
Investment Firm: $521,739.00 Note issued on April 29, 2014. This corporation loaned the Company $521,739.00 in exchange for a Promissory Note bearing interest at 8%. The Lender is allowed to convert the promissory note into Company common shares. The accrued interest payable balance on this note and is included in the Convertible Promissory Notes – Accrued Interest Section of the Company’s balance sheet was as of June 30, 2014.
521,739.00 7,188.40
13
Investment Firm: $20,000.00 Note issued on August 15, 2011. A corporation loaned the Company $20,000 in exchange for a Promissory Note bearing interest at 5%. The Lender is allowed to convert the promissory note into Company common shares, based on which the Note's buyer, Subsequently the note transferred to a non-affiliated second investment firm, which has converted $7,720.58. The accrued interest payable balance on this note and is included in the Convertible Promissory Notes – Accrued Interest Section of the Company’s balance sheet was as of June 30, 2014.
12,279.42 1,790.75
14
Investment Firm: $75,000.00 Note issued on May 28, 2014. This corporation agreed to loan the Company $521,739.00 over time in exchange for a Promissory Note bearing no interest for the first three months. The Lender is allowed to convert the promissory note into Company common shares. No accrued interest payable due to the grace period already mentioned.
75,000.00
15
Private Investor: $40,000.00 Note issued on June 1, 2012. This individual loaned the Company $40,000 in exchange for a Promissory Note bearing interest at 8%. The Lender is allowed to convert the promissory note into Company common shares, The accrued interest payable balance on this note and is included in the Convertible Promissory Notes – Accrued Interest Section of the Company’s balance sheet was as of June 30, 2014.
40,000.00 6,746.67
16
Investment Firm: $103,500 Note issued on March 18, 2014. This corporation loaned the Company $103,500.00 in exchange for a Promissory Note bearing interest at 8%. The Lender is allowed to convert the promissory note into Company common shares. The accrued interest payable balance on this note and is included in the Convertible Promissory Notes – Accrued Interest Section of the Company’s balance sheet was as of June 30, 2014.
103,500.00 2,392.00
17
Investment Firm: $60,000 Note issued on May 28, 2014. This corporation loaned the Company $60,000 in exchange for a Promissory Note bearing interest at 8%. The Lender is allowed to convert the promissory note into Company common shares. The accrued interest payable balance on this note and is included in the Convertible Promissory Notes – Accrued Interest Section of the Company’s balance sheet was as of June 30, 2014.
60,000.00 440.00
15
Note 6 – Notes Payable (continued)
18
Investment Firm: $150,000 Note issued on May 22, 2014. This corporation loaned the Company $150,000 in exchange for a Promissory Note bearing interest at 8%. The Lender is allowed to convert the promissory note into Company common shares. The accrued interest payable balance on this note and is included in the Convertible Promissory Notes – Accrued Interest Section of the Company’s balance sheet was as of June 30, 2014.
150,000.00 1,300.00
19
Private Investor: $50,000.00 Note issued on December 5, 2011. This individual loaned the Company $50,000 in exchange for a Promissory Note bearing interest at 8%. On May, 2012 $28,000 was paid on the Note. The Lender is allowed to convert the promissory note into Company common shares, The accrued interest payable balance on this note and is included in the Convertible Promissory Notes – Accrued Interest Section of the Company’s balance sheet was as of June 30, 2014.
22,000.00 6,878.67
20
Investment Firm: $5,000 Note issued on January 18, 2013. This corporation loaned the Company $5,000 in exchange for a Promissory Note bearing interest at 18%. The Lender is allowed to convert the promissory note into Company common shares. The accrued interest payable balance on this note and is included in the Convertible Promissory Notes – Accrued Interest Section of the Company’s balance sheet was as of June 30, 2014.
5,000.00 1,320.00
21
Investment Firm: $5,000 Note issued on February 4, 2013. This corporation loaned the Company $5,000 in exchange for a Promissory Note bearing interest at 18%. The Lender is allowed to convert the promissory note into Company common shares. The accrued interest payable balance on this note and is included in the Convertible Promissory Notes – Accrued Interest Section of the Company’s balance sheet was as of June 30, 2014.
5,000.00 1,277.50
22
Investment Firm: $1,500 Note issued on August 14, 2013. This corporation loaned the Company $1,500 in exchange for a Promissory Note bearing interest at 18%. The Lender is allowed to convert the promissory note into Company common shares. The accrued interest payable balance on this note and is included in the Convertible Promissory Notes – Accrued Interest Section of the Company’s balance sheet was as of June 30, 2014.
1,500.00 240.00
23
Investment Firm: $15,000 Note issued on May 21, 2012. This corporation loaned the Company $15,000 in exchange for a Promissory Note bearing interest at 18%. The Lender is allowed to convert the promissory note into Company common shares. The accrued interest payable balance on this note and is included in the Convertible Promissory Notes – Accrued Interest Section of the Company’s balance sheet was as of June 30, 2014.
15,000.00 5,775.00
24
Investment Firm: $7,000 Note issued on May 30, 2012. This corporation loaned the Company $7,000 in exchange for a Promissory Note bearing interest at 18%. The Lender is allowed to convert the promissory note into Company common shares. The accrued interest payable balance on this note and is included in the Convertible Promissory Notes – Accrued Interest Section of the Company’s balance sheet was as of June 30, 2014.
7,000.00 2,663.50
25
Investment Firm: $20,000 Note issued on July 24, 2012. This corporation loaned the Company $20,000 in exchange for a Promissory Note bearing interest at 18%. The Lender is allowed to convert the promissory note into Company common shares. The accrued interest payable balance on this note and is included in the Convertible Promissory Notes – Accrued Interest Section of the Company’s balance sheet was as of June 30, 2014.
20,000.00 7,060.00
16
Note 6 – Notes Payable (continued)
26
Investment Firm: $17,000 Note issued on October 10, 2013. This corporation loaned the Company $17,000 in exchange for a Promissory Note bearing interest at 18%. The Lender is allowed to convert the promissory note into Company common shares based on which the Lender converted $7,150 on January 28, 2014. The accrued interest payable balance on this note and is included in the Convertible Promissory Notes – Accrued Interest Section of the Company’s balance sheet was as of June 30, 2014.
9,850.00 3,092.90
27
Investment Firm: $13,000 Note issued on January 16, 2013. This corporation loaned the Company $13,000 in exchange for a Promissory Note bearing interest at 18%. The Lender is allowed to convert the promissory note into Company common shares. The accrued interest payable balance on this note and is included in the Convertible Promissory Notes – Accrued Interest Section of the Company’s balance sheet was as of June 30, 2014.
13,000.00 3,445.00
28
Investment Firm: $6,000 Note issued on July 24, 2012. This corporation loaned the Company $6,000 in exchange for a Promissory Note bearing interest at 18%. The Lender is allowed to convert the promissory note into Company common shares. The accrued interest payable balance on this note and is included in the Convertible Promissory Notes – Accrued Interest Section of the Company’s balance sheet was as of June 30, 2014.
6,000.00 2,118.00
29
Investment Firm: $8,877 Note issued on June 25, 2012. This individual loaned the Company $8,877 in exchange for a Promissory Note bearing interest at 8%. The Lender is allowed to convert the promissory note into Company common shares, The accrued interest payable balance on this note and is included in the Convertible Promissory Notes – Accrued Interest Section of the Company’s balance sheet was as of June 30, 2014.
8,877.00 1,449.91
30
Investment Firm: $95,000 Note issued on May 29, 2014. This corporation loaned the Company $95,000 in exchange for a Promissory Note bearing interest at 8%. The Lender is allowed to convert the promissory note into Company common shares. The accrued interest payable balance on this note and is included in the Convertible Promissory Notes – Accrued Interest Section of the Company’s balance sheet was as of June 30, 2014.
95,000.00 675.58
All of the above notes are uncollateralized.
As a result of the above, the balance of the notes payable is $2,644,425 as June 30 , 2014, and the accrued interest thereon is $137,455 as June 30, 2014.
So whose note has been converted??
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