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Dip Baby Dip
Here You Going! #AVOID
(Page 11 Last Q)
https://www.sec.gov/Archives/edgar/data/1300938/000118518516005294/abcoenergy10q063016.htm
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On March 23, 2016, the Company issued a two year $250,000 convertible promissory note to JMJ Financial, a Nevada sole proprietorship which bears interest at the rate of 12% per annum on the principal sum of the outstanding (“JMJ Note”). The JMJ Note is payable in installments of a minimum of $25,000 per drawdown. The Company drew down $25,000 on March 23, 2016. Under the terms of the JMJ Note; the current balance is now $31,111, which includes an original issue interest of $2,777.00, plus interest at the rate of 12% per annum. The JMJ Note is convertible at any time into shares of common stock at a conversion price equal to 60% of the lowest trade price in the 25 trading days previous to the conversion date.
On March 25, 2016, the Company received net proceeds of $35,000 after expenses, for a one (1) year $40,000 face amount of 8% Convertible Note in favor of EMA Financial, LLC (“EMA Note”). The EMA Note is convertible at any time into common stock at a conversion price equal to the lower of (i) the closing sale price on the day immediately preceding the date of funding and (ii) 50% of the lowest closing sale price for the 25 consecutive trading days immediately preceding the conversion date.
On April 1, 2016, the Company issued a one year $55,000 convertible promissory note to Essex Global Investment Corp. (“Essex”) which bears interest at the rate of 10% per annum on the principal sum of the outstanding (“Essex Note”). The Company received net proceeds of $50,000 after deductions for expenses, from the Essex Note. The Essex Note is convertible at any time after the six (6) month anniversary of the Note into shares of common stock at a conversion price equal to 55% of the lowest trade price in the 20 trading days previous to the conversion date.
On April 5, 2016, the Company received net proceeds of $33,300 after expenses, from a one (1) year $42,000 face amount of 5% Convertible Note in favor of Crown Bridge Partners, LLC (“CBP Note”). The CBP Note is convertible at any time after the six (6) month anniversary of the Note into common stock at a conversion price equal to 52% of the lowest closing sale price for the 25 consecutive trading days immediately preceding the conversion date.
On May 4, 2016, the Company received net proceeds of $33,750 after expenses, from a nine [9] month $40,000 face amount of 10% Convertible Note in favor of Auctus Fund, LLC (“AFL Note”). The AFL Note is convertible after the six (6) month anniversary of the Note into common stock at a conversion price equal to 60% of the lowest closing sale price for the 20 consecutive trading days immediately preceding the conversion date.
On May 9, 2016, the Company entered into an agreement with Adar Bays, LLC a Florida Limited Company (Adar), with respect to a private investment up to $60,000 of the convertible debt securities with a 9 month term. The $60,000 convertible debt is comprised of a $30,000 front-end note and one $30,000 back-end note. The principal and accrued interest under the notes will be convertible into shares of common stock of the Company at a 50% discount to the lowest closing bid price with a 20 day look back. Adar will deduct legal fees of $2,000 on the funding of each of the notes, as well as on the cash funding on the back-end note, as well as making deductions of $2,800 to Almorli Advisors on the cash funding of each of those notes. The notes shall bear interest at 8%. The Company is not required to take down the back end note. As of May 20, 2016, the Company borrowed $30,000 against the front end note.
Looks like a solid share structure, who dumping shares? Anyone know?
"We are aware of this companies activities but can not commit on a open investigations" DTCC
#boom
It's won't matter, Global DTC Lock is coming regardless of BK or not, the shares in the system will remain in the system continue to trade. I can only imagine the note holders are converting as fast as possible; more than likely selling short everything they can but their action only increases the chance of SEC violations liability from the 1934 Act (disclosure) so whatever broker is helping them will also help foot the legal bills to fight the SEC.
(SEC has a really big stick & they don't miss)
It's coming just hide & watch; it's going to be a very fun show
500,000 shares @ .01 cent profit is $5k but hey you should never trade penny stocks / unless you know what your doing & have brass ones with a bank roll to avg down.
DTC global lock is coming 100% but it doesn't stop the shares from trading, only new shares from entering the market. 3 Reverse Stock Splits this year should have triggered this but now it's OTCQB it's 100% / IMO is good for current shareholders but hard for note holders accept shares as payment.
DTC should put a global lock on its shares so the Company can't issue any new shares into the system.
It looks like that's what happened as the bid/ask is wacky.
I'm contacting the SEC, FINRA & DTC to see if I can find out more info.
I'm waiting till she really drops / back down to .000X's again
I think we're going to see sub penny's here
ran out of buyers I guess
Party's over?
Up or Down today?
smoke & mirrors
It's about that time
You tell me / you don't know if I'm long or short on any given day - lol
FYI) if the stock closes over .01 then it is OTCQB automatically; its listed under the 1934 act & its SEC filings are complete;
Pigs get fat / Hogs get slaughtered
#profit #hehe
Referring to killing new investors? Or what?
So who's the the bag holder here? There's always a big holder, always!
Do they have shares to dump?
bag holders trying to unload?
The issues I see is they've got 600+million shares issued & outstanding with zero capital, $6k in revenues & (the main issue I have) no one communicating with shareholders. Otherwise this could be Apple - lol
Timberrrr 0<
Yes - thank you!
Slap that ask
could see .005 by Friday?
Anyone holding more than 5% will need file a 13G ownership statement; FINRA will be waiting to drop the hammer on the broker/investor!
This could be interesting
3million shares issued & outstanding, @ .05 leave a market cap of $150k
Ok... I know the company is a POS but wow.. this is crazy
.0025 or .0045 (that is the question)
They need to do a merger or raise a lot of capital to make anything successful, any ideas when the CEO will discuss the direction with shareholders?
600+million shares issued & outstanding, I'll bet we will see a sell off once y'all stop pumping it.
Thank God I sold... back to $14 she goes
This is a trading fool
Geeez another -4%
Lower? .0006?
The run is over I guess? Back to .0015
Anyone heard when they will be holding the annual shareholders meeting?
BYLAWS
OF
Firemans Contractors Inc.
A Nevada Corporation
Article I
Meetings of Stockholders
Section 1.2 Annual Meetings
$APYP • Hello old friend