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4 24 47 please, thank you.
SLRW does not have a positive book value. It no longer exists, merely trading in limbo as a shell. When it was in operation, the assets listed were not accurately valued as was evident by its demise. It is far more likely that a real negative book value existed at that time. The unaudited financials filed in 2010 are nothing but relics at this point, and, were basically useless then given the assets listed.
It isn't technically Asher but another entity that Kramer set up. Although it is actually one of the smallest notes, the conversion terms are the worst. This is up March 31, who knows how many more have occurred since then.
Loan #7 Coventry Enterprises, LLC
On February 5, 2015, the Company entered into a convertible note with an unrelated third party whereby the Company borrowed $100,000. The principal accrues interest at a rate of eight percent per annum and is due in full on February 5, 2016. The note is immediately convertible at a 45 percent discount to the lowest closing bid price in the 20 trading days prior to conversion notice. The note will accrue interest at a rate of 24 percent per annum should the Company default. The Company analyzed the conversion option for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the derivative instrument should be classified as a liability once the conversion option becomes effective due to there being no explicit limit to the number of shares to be delivered upon settlement of the above conversion options. During the period ended March 31, 2015 the lender converted $0 of the note principal into the Company’s common stock. As of March 31, 2015 the remaining principal balance on this note was $100,000.
Loan #8 Coventry Enterprises, LLC
On February 5, 2015, the Company entered into a convertible note with an unrelated third party whereby the Company assumed $450,000 of debt The principal accrues interest at a rate of eight percent per annum and is due in full on February 5, 2016. The note is immediately convertible at a 45 percent discount to the lowest closing bid price in the 20 trading days prior to conversion notice. The note will accrue interest at a rate of 24 percent per annum should the Company default. The Company analyzed the conversion option for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the derivative instrument should be classified as a liability once the conversion option becomes effective due to there being no explicit limit to the number of shares to be delivered upon settlement of the above conversion options. During the period ended March 31, 2015 the lender converted $221,300 of the note principal into 12,900,000 of the Company’s common stock. As of March 31, 2015 the remaining principal balance on this note was $228,700.
Loan #9 Union Capital, LLC
On February 6, 2015 the Company entered into a convertible note with an unrelated third party whereby the Company borrowed $25,000 which was used to settle the Olweean demand note (see below). The principal accrues interest at a rate of eight percent per annum and is due in full on February 6, 2016. The note is immediately convertible at a 45 percent discount to the lowest closing bid price in the 10 trading days prior to conversion notice. The note will accrue interest at a rate of 24 percent per annum should the Company default. The Company analyzed the conversion option for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the derivative instrument should be classified as a liability once the conversion option becomes effective due to there being no explicit limit to the number of shares to be delivered upon settlement of the above conversion options. During the period ended March 31, 2015 the lender converted $25,000 of the note principal into 1,618,559 of the Company’s common stock. As of March 31, 2015 the remaining principal balance on this note was $0.
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Loan #10 Magna Securities, LLC
On February 17, 2015, the Company entered into a convertible note with an unrelated third party whereby the Company borrowed $35,000. The principal accrues interest at a rate of eight percent per annum and is due in full on February 17, 2016. The note is immediately convertible at a 40 percent discount to the lowest trading price in the five trading days prior to conversion notice. The note will accrue interest at a rate of 22 percent per annum should the Company default. The Company analyzed the conversion option for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the derivative instrument should be classified as a liability once the conversion option becomes effective due to there being no explicit limit to the number of shares to be delivered upon settlement of the above conversion options. During the period ended March 31, 2015 the lender converted $0 of the note principal into the Company’s common stock. As of March 31, 2015 the remaining principal balance on this note was $35,000.
Loan #11 Union Capital, LLC
On March 9, 2015, the Company entered into a convertible note with an unrelated third party whereby the Company assumed $53,880 of debt. The principal accrues interest at a rate of eight percent per annum and is due in full on March 9, 2016. The note is immediately convertible at a 39 percent discount to the lowest trading price in the 5 trading days prior to conversion notice. The note will accrue interest at a rate of 24 percent per annum should the Company default. The Company analyzed the conversion option for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the derivative instrument should be classified as a liability once the conversion option becomes effective due to there being no explicit limit to the number of shares to be delivered upon settlement of the above conversion options. During the period ended March 31, 2015 the lender converted $43,500 of the note principal into 2,598,808 the Company’s common stock. As of March 31, 2015 the remaining principal balance on this note was $10,380.
Loan #12 Union Capital, LLC
On March 9, 2015, the Company entered into a convertible note with an unrelated third party whereby the Company borrowed $50,000. The principal accrues interest at a rate of eight percent per annum and is due in full on March 9, 2016. The note is immediately convertible at a 39 percent discount to the lowest trading price in the 5 trading days prior to conversion notice. The note will accrue interest at a rate of 24 percent per annum should the Company default. The Company analyzed the conversion option for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the derivative instrument should be classified as a liability once the conversion option becomes effective due to there being no explicit limit to the number of shares to be delivered upon settlement of the above conversion options. During the period ended March 31, 2015 the lender converted $0 of the note principal into the Company’s common stock. As of March 31, 2015 the remaining principal balance on this note was $50,000.
Loan #13 Vis Vires Group, Inc.
On February 19, 2015, the Company entered into a convertible note with an unrelated third party whereby the Company borrowed $43,000. The principal accrues interest at a rate of eight percent per annum and is due in full on November 23, 2015. The note is convertible after 180 days at a 50 percent discount to the average of the three lowest trading prices in the 30 trading days prior to conversion notice. The note will accrue interest at a rate of 22 percent per annum should the Company default. The Company analyzed the conversion option for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the derivative instrument should be classified as a liability once the conversion option becomes effective due to there being no explicit limit to the number of shares to be delivered upon settlement of the above conversion options. During the period ended March 31, 2015 the lender converted $0 of the note principal into the Company’s common stock. As of March 31, 2015 the remaining principal balance on this note was $43,000.
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Loan #14 Coventry Enterprises, LLC
On March 10, 2015, the Company entered into a convertible note with an unrelated third party whereby the Company borrowed $75,000. The principal accrues interest at a rate of eight percent per annum and is due in full on March 10, 2016. The note is immediately convertible at a 45 percent discount to the lowest closing bid price in the 20 trading days prior to conversion notice. The note will accrue interest at a rate of 24 percent per annum should the Company default. The Company analyzed the conversion option for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the derivative instrument should be classified as a liability once the conversion option becomes effective due to there being no explicit limit to the number of shares to be delivered upon settlement of the above conversion options. During the period ended March 31, 2015 the lender converted $0 of the note principal into the Company’s common stock. As of March 31, 2015 the remaining principal balance on this note was $75,000.
Loan #15 LG Capital Funding, LLC
On March 12, 2015, the Company entered into a convertible note with an unrelated third party whereby the Company borrowed $75,000. The principal accrues interest at a rate of eight percent per annum and is due in full on March 12, 2016. The note is immediately convertible at a 39 percent discount to the lowest trading price in the 15 trading days prior to conversion notice. The note will accrue interest at a rate of 24 percent per annum should the Company default. The Company analyzed the conversion option for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the derivative instrument should be classified as a liability once the conversion option becomes effective due to there being no explicit limit to the number of shares to be delivered upon settlement of the above conversion options. During the period ended March 31, 2015 the lender converted $0 of the note principal into the Company’s common stock. As of March 31, 2015 the remaining principal balance on this note was $75,000.
Loan #16 Union Capital, LLC
On March 24, 2015, the Company entered into a convertible note with an unrelated third party whereby the Company assumed $116,678 of debt. The principal accrues interest at a rate of eight percent per annum and is due in full on March 24, 2016. The note is immediately convertible at a 39 percent discount to the lowest trading price in the five trading days prior to conversion notice. The note will accrue interest at a rate of 24 percent per annum should the Company default. The Company analyzed the conversion option for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the derivative instrument should be classified as a liability once the conversion option becomes effective due to there being no explicit limit to the number of shares to be delivered upon settlement of the above conversion options. As of March 31, 2015 the remaining principal balance on this note was $116,678.
Loan #17 Union Capital, LLC
On March 24, 2015, the Company entered into a convertible note with an unrelated third party whereby the Company borrowed $50,000. The principal accrues interest at a rate of eight percent per annum and is due in full on March 24, 2016. The note is immediately convertible at a 39 percent discount to the lowest trading price in the five trading days prior to conversion notice. The note will accrue interest at a rate of 24 percent per annum should the Company default. The Company analyzed the conversion option for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the derivative instrument should be classified as a liability once the conversion option becomes effective due to there being no explicit limit to the number of shares to be delivered upon settlement of the above conversion options. As of March 31, 2015 the remaining principal balance on this note was $50,000
Loan #18 Carebourn Capital, LP
On March 27, 2015, the Company entered into a convertible note with an unrelated third party whereby the Company borrowed $53,000. The principal accrues interest at a rate of 12 percent per annum and is due in full on December 27, 2015. The note is convertible after 90 days at a 40 percent discount to the average of the lowest three days trading price in the 10 trading days prior to conversion date. The note will accrue interest at a rate of 22 percent per annum should the Company default. The Company analyzed the conversion option for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the derivative instrument should be classified as a liability once the conversion option becomes effective due to there being no explicit limit to the number of shares to be delivered upon settlement of the above conversion options. During the period ended March 31, 2015 the lender converted $0 of the note principal into the Company’s common stock. As of March 31, 2015 the remaining principal balance on this note was $53,000.
This particular note is horrific for FONU investors, especially given the events that transpired on June 2.
Read the basic terms(FONU didn't provide full details in the 10Q) of the note. Fwiw, the nearly 24 mil is just a partial conversion to stay under 10%. Until the shares are sold. Then, conversion continues.
That is a fantasy SLRW book value number not grounded on facts.
They have not filed for 5 years and the unaudited financials then show assets that are worthless today as, they probably were then.
Any BV number above 0 is just pulled out of thin air with no factual basis behind it given that SLRW is just a zombie shell.
That is a fantasy SLRW book value number not grounded on facts.
They have not filed for 5 years and the unaudited financials then show assets that are worthless today as, they probably were then.
Any BV number above 0 is just pulled out of thin air with no factual basis behind it given that SLRW is just a zombie shell.
More disclosure would have been nice for those affected I suppose.
Although, the terms disclosed were atrocious enough.
Another Kurt Cramer special.
The 3 lowest trading prices in the last 30 days were on the 2nd of June:
.0014
.0016
.0017
50% discount = A very happy Curt Kramer.
This is how Jake Shapiro creates shareholder value.
Loan #13 Vis Vires Group, Inc.
On February 19, 2015, the Company entered into a convertible note with an unrelated third party whereby the Company borrowed $43,000. The principal accrues interest at a rate of eight percent per annum and is due in full on November 23, 2015. The note is convertible after 180 days at a 50 percent discount to the average of the three lowest trading prices in the 30 trading days prior to conversion notice. The note will accrue interest at a rate of 22 percent per annum should the Company default. The Company analyzed the conversion option for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the derivative instrument should be classified as a liability once the conversion option becomes effective due to there being no explicit limit to the number of shares to be delivered upon settlement of the above conversion options. During the period ended March 31, 2015 the lender converted $0 of the note principal into the Company’s common stock. As of March 31, 2015 the remaining principal balance on this note was $43,000.
If a note clearly states that it is convertible after 180 days but is converted after 120 days, what is going on? Am I missing something obvious?
Perhaps this is a dumb question lol. If so, it won't be the first I've asked.
Look at these terms.
Loan #13 Vis Vires Group, Inc.
On February 19, 2015, the Company entered into a convertible note with an unrelated third party whereby the Company borrowed $43,000. The principal accrues interest at a rate of eight percent per annum and is due in full on November 23, 2015. The note is convertible after 180 days at a 50 percent discount to the average of the three lowest trading prices in the 30 trading days prior to conversion notice. The note will accrue interest at a rate of 22 percent per annum should the Company default. The Company analyzed the conversion option for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the derivative instrument should be classified as a liability once the conversion option becomes effective due to there being no explicit limit to the number of shares to be delivered upon settlement of the above conversion options. During the period ended March 31, 2015 the lender converted $0 of the note principal into the Company’s common stock. As of March 31, 2015 the remaining principal balance on this note was $43,000.
Your friends have 23.494 million fresh shares coming to the open market courtesy of Kurt Cramer. Enjoy the feast.
The best? The current circumstances rank it among the worst.
No filings for 5 years. A defunct business with dubious assets and significant real liabilities 5 years ago, etc.
It is just a shell now, nothing more. The financials from 5 years ago, completely meaningless. It ranks in the bottom 5% of the OTC market. Far from being the best.
Of course, it could move up. All shells usually do temporarily at some point or another.
ITUS 1:25 ITUS Corporation Common Stock
Atlanta is king of the hill, but spillover occurring in Savannah as studio space is full in Atlanta.
Manu screwed MDNT royally, Jake is somewhat culpable. The forced ouster of Manu the right step, but damage done. Reversible? I think so. But Moon River has been poor in execution, otherwise sound stages would be built by now. Is it Jake's fault--of course. Should someone been at the IDA meeting yesterday--of course. Who's fault--Jake's. He's the leader and chief, and he's responsible for delegating. Not showing up was a bonehead move.
Fascinating. Everything is so much clearer now.
At least you are well able to handle a total loss if it occurs.
I'm sure that they are able to as well.
People love to invest in dreams. Even the Effingham County IDA board remains intoxicated by a dream. Never lose hope I suppose.
I figured that you would edit that screenshot lol.
You should still get them given that you held at the record date but, I have no idea beyond them saying it if it really was. Given that nothing has transpired on that front, hard to say if any MDNT shareholders will receive shares. Jake appears to be too busy borrowing as much from toxic financiers as he can to worry about such trivialities.
Hopefully it all works out well for him then.
Advising friends to buy a penny stock is an easy way to lose friends.
In addition, defendant Galas informed the United States about additional individuals involved in the manipulation of penny stocks.
So, he now feels like he did something wrong. How quickly everything changes when facing the prospect of incarceration.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=105096402
It is completely immaterial to SLRW, that is for sure.
Cherry pick one stock and claim it as the only peer worth comparing it to? How ridiculous is that lol.
How about the the thousands of other "peers" that did not? Are they conveniently forgotten?
How about the 2000+ that have been suspended over the last five years along the thousands that did reverse splits during the same timeframe?
Are those "peers" any less noteworthy? C'mon.
NXOI 1:50 Next 1 Interactive, Inc. Common Stock
Wow, so an ICTY trade for 100 shares is imminent? I await with breathless anticipation.
I'm assuming that the firm involved in Scottsdale AZ is Scottsdale Capital.
Not surprising if so I suppose. They appear to love doing business with guys like Mulholland.
I hope so. I'm a little surprised at the $300,000,000 number. He must have been a far larger player than most realized.
Ah, CYNK. I wonder if the business media will say much about the arrest. Sure caused a frenzy for a week last year lol.
Sounds nice except for the inconvenient fact that the "BV" or perceived "BV" had nothing to do with it. There are 9,800+ penny stock tickers, yet, only a tiny sliver ever make those types of moves and, it never has anything to do with the "BV" of said tickers.
There is a 99.9% chance that SLRW will not join the major mover ranks. Of course, a .10% chance(I'm being generous) exists that it will. Bet on that chance but, there is no other real comparison that can be made.
Isn't it obvious on SLRW?
Beware of any individual touting a "book value" number in the subpenny OTC marketplace. Quite simply, it is generally unreliable and ridiculous to consider that a catalyst to act on. In this situation, it is blatantly false to do so given the lack of financials for 5 years and, only unaudited financials back then.
Many stocks run or drop all of the time down here. It never has anything to do with positive or negative "book value". It has everything to do with hopes and dreams for the company's future.
The one that espouses using fake book valuations to pump stocks knows that all too well. Shameful.
MRNJ 1:10000 Metatron Inc Common Stock
Most see through the delusion that a .0132 BV per share exists. Obviously even the perpetrators of that particular nonsensical fantasy do not believe that $.0132 in value per share exists given the .0001x.0002 quote with zero volume.
On SLRW, that is highly misleading and dependent on unaudited 5 year old data.
There is no way of knowing the current book value but, given the nature of the assets listed then, we can ascertain that it is likely zero. In fact, probably below zero.
There is nothing wrong with liking the stock but it should be portrayed as it really is.
EDWY 1:2000 RS tonight.
EDWY 1:2000 eDoorways International Corporation Common Stock
I never have understood why those wishing to play like Buffett don't do the obvious, buy BRK.A or BRK.B. Better off to have direct exposure to his unique blend of mostly high quality businesses directly. Not to mention the fact that no one else gets the sweetheart deals like he does when a major company needs the credibility of Berkshire Hathaway(GS, BAC, etc).
If a NYSE listing denotes lasting credibility, AXON investors have nothing to fear.
Sure, it could do that if a huge amount of $ buying action flowed in.
It won't occur because of a fantasy book value number though.
There is nothing stopping you from putting in a GTC order at .0002 to buy 79.9 million.
Remarkably, yet again grossly misrepresenting facts about SLRW.
Thankfully, anyone doing even a rudimentary glance at the facts will discern just how far from the truth it is.
It is just a pos shell with no operations and a likely negative book value. The sad part is, you know it and still continue to mislead in a most reprehensible manner.
What is next, buyers of a worthless shell being promised that they will become billionaires?