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No he funded the company himself and paid them, this new note should have no problem being paid with revenues though
It doesn't matter it will be paid in advance just like the rest have been
Awesome news Go PGUS!!!
Even the toxic funder is having trouble making money here what a joke
Next conversion .000275 for around 20M shares, the first conversion today only knocked off $8k of the $280k balance this next one not even $6k
Another ECOS filing just hit 10k they're getting them all caught up to go current looks like
Jan The Man keeps his word yet again anyone else notice a trend here? Now it's time for the stock to follow
Looks like a change of control is underway for $EXAD
Nice form 4 looks like the transition is occurring, expecting more to follow
At least 120M of that O/S has to be held for control purposes leaving at most under 120M trading pretty tiny for this price
I believe it's just over 200 miles but someone may know better than I do
How's it going smitter? Good to see you found this little hidden gem. I agree with everything you said don't know when it's going to happen but it's too pretty not to have a piece waiting in the portfolio for when it does. Hope all is well!
Just went back and read through the old PR's pretty amazing all these claims and nothing ever happens
http://globenewswire.com/news-release/2016/05/12/839354/0/en/Auscrete-Corporation-signs-Agreement-for-Financing-of-Jamaican-Housing-Real-Estate-Development.html?parent=897244
http://globenewswire.com/news-release/2016/06/28/851824/0/en/Auscrete-Corporation-ASCK-in-Final-Negotiations-to-Acquire-Revenue-Producing-Assets.html?parent=839354
http://globenewswire.com/news-release/2016/09/13/871412/0/en/Auscrete-Corporation-ASCK-progresses-on-16-Million-Jamaican-Housing-Development.html?parent=851824
http://globenewswire.com/news-release/2016/10/04/876969/0/en/Auscrete-Corporation-ASCK-funding-Agreement-will-boost-its-US-and-Jamaica-housing-ventures.html?parent=871412
http://globenewswire.com/news-release/2016/12/13/897244/0/en/Auscrete-Corporation-ASCK-to-focus-strategy-on-its-US-housing-ventures.html?parent=876969
This will get a reverse split. They don't have a choice. They need the S1 funding from Kodiak so it's not a matter of if but when. Then Kodiak can take it back to trips again trying to get people to buy $2M worth of stock post split
They're no where near production they'll first need to file the S1 so that Kodiak can dilute up to $2M worth of stock so they can build the facility
No sir these conversions are bottomless when it hits .0001 they'll get a discount on that to .000055 until the bid runs out
"We need to finance our production plant through stock sales and that will mean some dilution"
So not only do we have to deal with the $400k in notes now we need more money for the production plant. How much does that cost? Oh is that what the $2M in funding from Kodiak is for? Good god this has no chance!
With today's discount to lowest price they'll be adding 500M shares on just the Adar Bays notes due RIGHT NOW! So yeah the float is about to more than quadruple on just that and then there's more where that came from
Man oh man amazing news go $LIGA
8k out huge A/S increased to 5B
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12002646
Don't worry I'll help, 45% discount to the lowest trading price of .0015 equals a .0008 conversion price. So now we take the $280k that is due and divide that out and we get 350M shares just on the Adar Bays notes that are due now. But that's not so bad right until you think about the price dwindling as they sell. The first tranche will be around 18M shares for about $15k in debt. Those shares will probably take this to .001 so then the next batch they'll get a .0006 conversion. Oh no 20M shares issued and only $12k of debt removed from the total. I think people are starting to get the picture see you at trips
I'd like to see what you came up with in your head please tell us how many shares are about to hit
Hence why they have no money they haven't gotten any financing besides the convertible death spiral variety, kodiak would just make matters worse but they'd have to file an S1 to raise $2M by dumping stock on shareholders and they won't have a stock to do that with without a reverse split by the time these convertible notes are done
Did you read the subsequent events in the 10k to see who was funding them?
Yeah go ahead and buy this garbage you'll see soon enough how much dilution there is
Wow nice DD these guys have some really impressive connections
Because they just hand money away hopeful that someone will give them more money
Note 7 – Loss on deposit
We made a security deposit in the amount of $219,998 in October 2016 to an overseas company as a security deposit on a loan. Management has elected to impair this deposit due to the uncertainty of its security and collectability in the amount of $219,998.
It will be lower than .001 the discount is already .0008 and will just get cheaper as it falls
There is no production, the money they borrowed was given to the Europeans in hopes of getting funding which failed, they're taking the $220k loss now
$23 cash in 10k I got that much change in my seat cushion
52wk low was .0015 which means Adar Bays can start feeding you their .0008's they're about to get whenever they're ready
On October 11, 2016, we issued 120,500,000 shares of our common stock @ $.0006 for consulting services.
Oh but there's more....
NOTE - 10 SUBSEQUENT EVENTS
Subsequent to December 31, 2016. The company Issued a convertible note with Power Up Lending Group Ltd in the amount of $38,000 and signed an Equity Purchase Agreement for $2 Million with Kodiak Capital Group, LLC. If this financing facility is used, it will require the company to submit an S-1 to the SEC. The company also issued a convertible promissory note to Kodiak Capital Group, in the amount of $30,000.
Note 6 - Notes Payable and Completed
During December 2015, the company issued 2 Convertible Notes.
1. CONVERTED and completed. A note to ADAR Bays was for $50,000 and was completely converted August 31, 2016. It was a twelve month note at 8% interest.
2. CONVERTED and completed. The second Note was with EMA Financial Inc. It was a twelve month note at 10% interest and it completely converted before September 31, 2016. The company had determined that the EMA note had an embedded derivative that was shown on the 2015 Balance Sheet.
During January and during September to December 2016, the company issued 7 Convertible Notes.
1. CONVERTED and completed. This Note, issued in January, 2016 was a $45,000 note to Fourth Man LLC. which has completely converted.
2. CONVERTED and completed. A second note to ADAR Bays for $50,000 was a back-end note and completely converted during September, 2016.
3. A third note to ADAR Bays for $54,000 is convertible after March 22, 2017. It is a twelve month note at 8% interest.
4. A fourth note to ADAR Bays for $230,000 is convertible after April 13, 2017. It is a twelve month note at 12% interest but is secured by already issued shares belonging to John Sprovieri, the CEO of the company.
5. A note to JSJ Investments for $84,500 is convertible after October 7, 2017. It is a twelve month note at 12% interest.
6. A note to Crown Bridge Partners, LLC for $43,000 is convertible after October 17, 2017. It is a twelve month note at 10% interest.
7. A note to Fourth Man, LLC for $45,000 and is convertible after July 26, 2017. It is a nine month note at 10% interest
As a result of these convertible notes, we recognized and imbedded derivative liability, as of December 31, 2016 and 2015. Our derivative liability was $117,759 and $39,818