Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
lol...you were the SMART buyer here remember?...you've been buying from .04 all the way down...according to you
I think you bought some of mine
MM's parked on the ask for the last 3 hours of trading at .018
if you want this pig, get some tomorrow for .015 or less
LOL delinquent in filing
read the last 10Q...it lists all of the notes sold up to Oct 1 2017...they were all in default...
God knows how many more notes were sold since then
https://backend.otcmarkets.com/otcapi/company/sec-filings/12654169/content/html
as the note-holders cash them in after 6months, they get the principal amount, interest, and penalties in shares at a 40% discount to the current price....they then dump the shares into the market and drive down the PPS
cash another note at a 40% discount
Rinse/repeat
We must have a language barrier....the note holders are diluting the stock... the note holders are calling in on the loans in default and forcing the company to give them the shares per the agreement... the note holders are dumping these shares into the market...
Even a company with good intentions and a real business fall prey to the toxic financing.
This stock is done
T-Trades are irrelevant to my post
Authorized and Outstanding shares raised on ADAC
More convertible notes getting cashed and diluted
Share structure changed again..from the last filing: The number of shares of the issuer’s common stock issued and outstanding as of October 1, 2017 was 157,217,031 shares
https://backend.otcmarkets.com/otcapi/company/sec-filings/12654169/content/html
On March 6, 2018 there were roughly 250M OS...raised to 269M in early April... and now 292M as of 4/30
Authorized Shares doubled 3 days ago from 500M to 1B 4/30/18
As of 4/30/2018
292,704,348
https://www.otcmarkets.com/stock/ADAC/security
read the 10Q...those projects are on hold...no money to fund them
just another BS PR awhile back
burning my bridge in the OTC community??? They haven't done me any favors lately
For your own sake...learn how to read a freakin' 10Q or 10k
It's all right in front of you
you have no facts to back up your posts
I am posting FACTS directly from the company's last filing
If their news was as good as you dream, why was there a single trade for 1,000,000
dumped into the bid?
use your eyes...pure dilution by the holders
under item 7
At September 30, 2017, we had $1,084,689 in principal amount of outstanding convertible notes, net of debt discount.
https://backend.otcmarkets.com/otcapi/company/sec-filings/12654169/content/html
For the new faces on this board...this is a pure pump and dump stock
All of these notes are in default and the notes are diluting this stock to just over .01
On October 15, 2013, the Company converted $30,000 of payables into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on October 15, 2014. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $53,939.
On January 15, 2014, the Company converted $30,000 of payables into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on January 15, 2015. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $51,078.
On March 15, 2014, the Company converted $30,000 of payables into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on March 15, 2015. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $49,225.
On June 15, 2014, the Company converted $30,000 of payables into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on June 15, 2015. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $46,642.
On July 1, 2014, the Company converted $60,000 of amounts due to officers into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on July 31, 2015. The note has conversion rights that allow the holder of the note after six months to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $93,285.
On September 15, 2014, the Company converted $30,000 of payables into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on September 15, 2015. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $44,168.
On December 15, 2014, the Company converted $30,000 of payables into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on December 15, 2015. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $41,826.
On March 15, 2015, the Company converted $30,000 of payables into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on March 15, 2016. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $39,607.
On April 1, 2015, the Company converted $52,500 of compensation owed into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on September 30, 2016. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $69,312.
On April 1, 2015, the Company converted $30,000 of compensation owed into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on September 30, 2016. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $39,607.
On June 15, 2015, the Company converted $30,000 of payables into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on June 15, 2016. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $37,506.
On September 15, 2015, the Company converted $30,000 of payables into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on September 15, 2016. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $35,517.
On December 15, 2015, the Company converted $30,000 of payables into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on December 15, 2016. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $33,633.
you want to see how toxic these convertible can be...look at the first one signed back in 2011: $30,000 convertible note never paid now owes the holder with interest and penalties $273,650
On November 18, 2011, the Company signed a $30,000 convertible promissory note with a third party. The note bears interest at 8% per annum and was due on August 18, 2012. The note has conversion rights that allow the holder of the note to convert after 180 days all or any part of the remaining principal balance into the Company’s common stock at a price equal to 58% of the average of the lowest six trading prices for the Common Stock during the most recent ten-day period. The conversion feature was determined to exist and was recorded at the time of issue as a derivative liability, but has been fully amortized in prior periods. This note is in default. According to the terms of the note upon default the balance due is 150% of the unpaid principal balance. In addition, from the date of default the notes bear interest at 22% per annum. The investor may in its sole discretion convert the default amount into equity. The total balance outstanding on this note at December 31, 2016 was $273,650, which included $243,650 of accrued interest and penalties.
All of this from the last filing ending Sept 30, 2017
https://backend.otcmarkets.com/otcapi/company/sec-filings/12654169/content/html
I added up all of these convertible notes and it totals $625,000 unpaid as of Dec, 31, 2016
with the stated conversion rate of .0015, the company would have to give them 416,666,666 shares
This total only accounts for the convertible notes sold thru 2015
You can add 2016, 2017, and 2018 to this total...I don't have enough fingers or toes
And people wonder why can this fabulous company's share price is falling
Pennyonwallstreet.com has been paid to advertise Adama Technologies Corp. (ADAC). Pennyonwallstreet.com has been hired by a third party, Massey Enterprises, for a period beginning on January 24th 2018 and is scheduled to end on March 30th 2018 to publicly profile and disseminate information about ADAC. Pennyonwallstreet.com has been paid one hundred and twenty five thousand dollars over this period. The third party paying us to market ADAC intends to sell their shares they hold while we tell investors to purchase during the Campaign.
https://www.pennyonwallstreet.com/best-2018-investment-opportunity/
this scam got certified on OTCQB last month
running the pump and dump
Now delinquent reporting
I guess they don't want you to see all the new Notes sold since October 2017
https://www.otcmarkets.com/stock/ADAC/overview
another dump by the note holders into news
share price down for the day...lol
More sells coming...gonna take it down to .021
I won't lose money...All I have to do is bid-whack this down to .015 and cash in another note 30M shares at a 40% discount
Watch and learn
rinse/repeat
I felt obligated to inform the new faces on this boards not to drink the Kool-Aid many here are serving
For the new faces on this board...this is a pure pump and dump stock
All of these notes are in default and the notes are diluting this stock to just over .01
On October 15, 2013, the Company converted $30,000 of payables into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on October 15, 2014. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $53,939.
On January 15, 2014, the Company converted $30,000 of payables into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on January 15, 2015. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $51,078.
On March 15, 2014, the Company converted $30,000 of payables into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on March 15, 2015. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $49,225.
On June 15, 2014, the Company converted $30,000 of payables into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on June 15, 2015. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $46,642.
On July 1, 2014, the Company converted $60,000 of amounts due to officers into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on July 31, 2015. The note has conversion rights that allow the holder of the note after six months to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $93,285.
On September 15, 2014, the Company converted $30,000 of payables into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on September 15, 2015. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $44,168.
On December 15, 2014, the Company converted $30,000 of payables into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on December 15, 2015. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $41,826.
On March 15, 2015, the Company converted $30,000 of payables into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on March 15, 2016. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $39,607.
On April 1, 2015, the Company converted $52,500 of compensation owed into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on September 30, 2016. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $69,312.
On April 1, 2015, the Company converted $30,000 of compensation owed into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on September 30, 2016. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $39,607.
On June 15, 2015, the Company converted $30,000 of payables into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on June 15, 2016. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $37,506.
On September 15, 2015, the Company converted $30,000 of payables into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on September 15, 2016. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $35,517.
On December 15, 2015, the Company converted $30,000 of payables into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on December 15, 2016. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $33,633.
you want to see how toxic these convertible can be...look at the first one signed back in 2011: $30,000 convertible note never paid now owes the holder with interest and penalties $273,650
On November 18, 2011, the Company signed a $30,000 convertible promissory note with a third party. The note bears interest at 8% per annum and was due on August 18, 2012. The note has conversion rights that allow the holder of the note to convert after 180 days all or any part of the remaining principal balance into the Company’s common stock at a price equal to 58% of the average of the lowest six trading prices for the Common Stock during the most recent ten-day period. The conversion feature was determined to exist and was recorded at the time of issue as a derivative liability, but has been fully amortized in prior periods. This note is in default. According to the terms of the note upon default the balance due is 150% of the unpaid principal balance. In addition, from the date of default the notes bear interest at 22% per annum. The investor may in its sole discretion convert the default amount into equity. The total balance outstanding on this note at December 31, 2016 was $273,650, which included $243,650 of accrued interest and penalties.
All of this from the last filing ending Sept 30, 2017
https://backend.otcmarkets.com/otcapi/company/sec-filings/12654169/content/html
I added up all of these convertible notes and it totals $625,000 unpaid as of Dec, 31, 2016
with the stated conversion rate of .0015, the company would have to give them 416,666,666 shares
This total only accounts for the convertible notes sold thru 2015
You can add 2016, 2017, and 2018 to this total...I don't have enough fingers or toes
And people wonder why can this fabulous company's share price is falling
Pennyonwallstreet.com has been paid to advertise Adama Technologies Corp. (ADAC). Pennyonwallstreet.com has been hired by a third party, Massey Enterprises, for a period beginning on January 24th 2018 and is scheduled to end on March 30th 2018 to publicly profile and disseminate information about ADAC. Pennyonwallstreet.com has been paid one hundred and twenty five thousand dollars over this period. The third party paying us to market ADAC intends to sell their shares they hold while we tell investors to purchase during the Campaign.
https://www.pennyonwallstreet.com/best-2018-investment-opportunity/
so much for getting current with OTC...now delinquent
But I guess becoming delinquent is better than showing the stuckholders all the NEW notes signed in last 6 months since filing
https://www.otcmarkets.com/stock/ADAC/overview
LMAO...nobody shorts pinks
Anyone telling you to buy here is selling his shares to you... In my opinion
with increase this should trade around .008 IMO
Where is the canning facility for this product
Does EQLB produce it or just a marketing company?
No...the note holders are bleeding this down to just above .01
In short the new rules as we see them is no note conversion deposits will be accepted for issues that trade below $0.01 per share, and may not exceed 20% of the previous 20-day volume average in the stock in question.
http://www.wallstreetnewscast.com/microcap-0416/
lmao...remember this one?
KngmAz Wednesday, 04/18/18 10:18:35 AM
Re: None 0
Post #
15207
of 15279
WOW!! Well just remember that I TOLD YOU SO!! $1.00 per share coming soon - VERY SOON!!
Partly true. It is a third-party that paid for the pump...I'm guessing it is some of the same third-parties that bought the toxic convertible notes from ADAC
and no...as of the last filing, those notes are in default
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=140119198
The life is getting sucked out of this ADAC as fast as the mods left this board for the other one on 3/23
I'll be visiting that one soon
Talk about a promotion
Pennyonwallstreet.com has been paid to advertise Adama Technologies Corp. (ADAC). Pennyonwallstreet.com has been hired by a third party, Massey Enterprises, for a period beginning on January 24th 2018 and is scheduled to end on March 30th 2018 to publicly profile and disseminate information about ADAC. Pennyonwallstreet.com has been paid one hundred and twenty five thousand dollars over this period. The third party paying us to market ADAC intends to sell their shares they hold while we tell investors to purchase during the Campaign.
https://www.pennyonwallstreet.com/best-2018-investment-opportunity/
Don't concern yourself why I am here...Wizard
"Pay no attention to the man behind the curtain"
I cut my losses, moved onto another stock,made it back up
Better than losing more here
toxic financing is killing this company's future...market is getting flooded with dilution
Pennyonwallstreet.com has been hired by a third party, Massey Enterprises, for a period beginning on January 24th 2018 and is scheduled to end on March 30th 2018 to publicly profile and disseminate information about ADAC.
KngMaz...you can stop posting it is past March 30th
so all the note holders have to do is keep this pig above a penny and sell their 400,000,000 shares at .011
Shareholders could smack the ask for months with no movement...lol
I added up all of these convertible notes and it totals $625,000 unpaid as of Dec, 31, 2016
with the stated conversion rate of .0015, the company would have to give them 416,666,666 shares
This total only accounts for the convertible notes sold thru 2015
You can add 2016, 2017, and 2018 to this total...I don't have enough fingers or toes
And people wonder why can this fabulous company's share price is falling
they hadn't paid any of these notes off as of the last filing
Don't tell this board it no big deal
On October 15, 2013, the Company converted $30,000 of payables into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on October 15, 2014. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $53,939.
On January 15, 2014, the Company converted $30,000 of payables into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on January 15, 2015. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $51,078.
On March 15, 2014, the Company converted $30,000 of payables into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on March 15, 2015. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $49,225.
On June 15, 2014, the Company converted $30,000 of payables into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on June 15, 2015. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $46,642.
On July 1, 2014, the Company converted $60,000 of amounts due to officers into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on July 31, 2015. The note has conversion rights that allow the holder of the note after six months to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $93,285.
On September 15, 2014, the Company converted $30,000 of payables into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on September 15, 2015. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $44,168.
On December 15, 2014, the Company converted $30,000 of payables into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on December 15, 2015. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $41,826.
On March 15, 2015, the Company converted $30,000 of payables into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on March 15, 2016. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $39,607.
On April 1, 2015, the Company converted $52,500 of compensation owed into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on September 30, 2016. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $69,312.
On April 1, 2015, the Company converted $30,000 of compensation owed into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on September 30, 2016. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $39,607.
On June 15, 2015, the Company converted $30,000 of payables into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on June 15, 2016. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $37,506.
On September 15, 2015, the Company converted $30,000 of payables into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on September 15, 2016. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $35,517.
On December 15, 2015, the Company converted $30,000 of payables into a convertible promissory note with a third party. The note bears interest at 8% per annum and was due on December 15, 2016. The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a fixed price of $0.0015. This note is in default and the total balance outstanding as of December 31, 2016 was $33,633.
easily get paid off huh?
did you read the filing?
an unpaid note for only $30,000 became $273,000 debt after accrued interest and penalties.
They didnt pay that note for 5 years..I doubt that they paid it all of a sudden....and there were 7 new notes sold in the first 3 quarters last yr
On November 18, 2011, the Company signed a $30,000 convertible promissory note with a third party. The note bears interest at 8% per annum and was due on August 18, 2012. The note has conversion rights that allow the holder of the note to convert after 180 days all or any part of the remaining principal balance into the Company’s common stock at a price equal to 58% of the average of the lowest six trading prices for the Common Stock during the most recent ten-day period. The conversion feature was determined to exist and was recorded at the time of issue as a derivative liability, but has been fully amortized in prior periods. This note is in default. According to the terms of the note upon default the balance due is 150% of the unpaid principal balance. In addition, from the date of default the notes bear interest at 22% per annum.
The investor may in its sole discretion convert the default amount into equity. During 2016, the Company issued 8,000,000 shares of common stock to convert $200,000 of the outstanding balance of this note. The total balance outstanding on this note at December 31, 2016 was $273,650, which included $243,650 of accrued interest and penalties.
did you read the article disclaimer?
Pennyonwallstreet.com has been paid to advertise Adama Technologies Corp. (ADAC). Pennyonwallstreet.com has been hired by a third party, Massey Enterprises, for a period beginning on January 24th 2018 and is scheduled to end on March 30th 2018 to publicly profile and disseminate information about ADAC. Pennyonwallstreet.com has been paid one hundred and twenty five thousand dollars over this period. The third party paying us to market ADAC intends to sell their shares they hold while we tell investors to purchase during the Campaign.
yea, I guess i should have pounded the table about the notes hurting the SP but one can never predict with conviction what a stock will do
Hopefully some read the post and got out with profit or a lesser loss than here.
I drank the Kool-Aid and jumped in at .054 B4 reading the fins
Cut my losses @ .039
jimstr Member Level Tuesday, 04/03/18 03:37:44 PM
Re: None 0
Post #
14675
of 15154
Just thinking out loud here but the selling seems to have stopped. Is there any chance that those holding the convertible notes drove the price down so that they get their newly issued shares at deep discount now?
from the 10Q
On February 2, 2017, the Company entered in convertible note agreement with a private and accredited investor, Vincent & Rees, LC, in the amount of $56,000, unsecured, accruing interest at a 12% interest rate, with principal and interest amounts due and payable upon maturity on February 2, 2018. After six months, the note holder has the option to convert any portion of the unpaid principal balance into the Company’s common shares at any time at a 40% discount to the current market value.
On February 22, 2017, the Company entered in convertible note agreement with a private and accredited investor, Power Up Lending Group Ltd., in the amount of $35,000, unsecured, accruing interest at a 12% interest rate, with principal and interest amounts due and payable upon maturity on February 22, 2018. After six months, the note holder has the option to convert any portion of the unpaid principal balance into the Company’s common shares at any time at a 40% discount to the current market value.
On March 9, 2017, the Company entered in convertible note agreement with a private and accredited investor, Chienn Consulting, LLC., in the amount of $53,000, unsecured, accruing interest at a 12% interest rate, with principal and interest amounts due and payable upon maturity on March 9, 2018. After six months, the note holder has the option to convert any portion of the unpaid principal balance into the Company’s common shares at any time at a 40% discount to the current market value./b]
jimstr Member Level Friday, 04/06/18 09:27:02 AM
Re: jrsh post# 14751 0
Post #
14752
of 15154
The owners of these converted shares are going to want a return...ADAC has another run coming IMO
jimstr Member Level Tuesday, 04/10/18 02:32:36 PM
Re: jimstr post# 14752 0
Post #
14894
of 15154
There was the run I predicted on Friday...I actually thought it would last more than a hour though
jimstr Member Level Wednesday, 04/11/18 05:33:19 AM
Re: jimstr post# 14947 0
Post #
14949
of 15154
an example:
Fred, Russell, Andrew, Urlula, and David go to cash-strapped company PLAYBALL HOLDING CO
ea person loans the company 100K with convertible notes attached at a 40% discount after 6 months
Fred and his buddies quietly accumulate shares at .03 in the company for 6 months and hire a stock promoter
At the designated time, PLAYBALL HOLDING CO puts out a PR driving the SP up
to .10 with the help of the stock promoter
Fred and his buddies sell their accumulated shares for a tidy profit and absolutely bid whack the SP down to .03 in the process
Fred and his buddies now exercise the convertible notes at a 40% discount from .03 ($500,000 divided by .018 equals 27.7M new shares)
rinse/repeat and perfectly legal and no shorting involved
Any notes sold in Q4 (Oct-Dec) can be converted to commons and sold in april, may, and june
We won't get those numbers til fins come out
In the meantime stick a fork in this