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SMA 20 didn't hold
next support at SMA 50....007
How many MM's on this stock?
your net worth is -20M?
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
balance ending 2016 in notes:
$643,689
8 new notes totaling $441,000 in 2017(thru Aug 2017)
3 new notes in '16
6 new notes in '15
7 new notes in '14
one each in '11 '12'and'13
how many more notes during Q4-17 and Q1-18???
As of December 31, 2016, and 2015, the principle balance of convertible notes payable was $643,689 and $0, respectively. The accrued interest balance as of December 31, 2016 and 2015 was $697,486 and $0, respectively, and is recorded in accounts payable & accrued liabilities on the balance sheet.
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. The Company has determined that the conversion feature in this note is indexed to the Company’s stock, and is considered to be a derivative that requires bifurcation. The Company calculated the fair value of this conversion feature using the Black-Scholes model and the following assumptions: Risk-free interest rates of 1.21%; Dividend rate of 0%; and, historical volatility rate of 435.56%.
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. The Company has determined that the conversion feature in this note is considered to be a derivative. The Company calculated the fair value of this conversion feature using the Black-Scholes model and the following assumptions: Risk-free interest rates of 1.21%; Dividend rate of 0%; and, historical volatility rate of 435.56%.
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. The Company has determined that the conversion feature in this note is considered to be a derivative. The Company calculated the fair value of this conversion feature using the Black-Scholes model and the following assumptions: Risk-free interest rates of 1.21%; Dividend rate of 0%; and, historical volatility rate of 435.56%.
On May 1, 2017, the Company entered in convertible note agreement with a private and accredited investor, Marp, LLC., in the amount of $30,000, unsecured, accruing interest at a 12% interest rate, with principal and interest amounts due and payable upon maturity on May 1, 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. The Company has determined that the conversion feature in this note is considered to be a derivative. The Company calculated the fair value of this conversion feature using the Black-Scholes model and the following assumptions: Risk-free interest rates of 1.21%; Dividend rate of 0%; and, historical volatility rate of 435.56%.
On May 19, 2017, the Company entered in convertible note agreement with a private and accredited investor, Horizon Phoenix Enterprises, LLC., in the amount of $71,000, unsecured, accruing interest at a 12% interest rate, with principal and interest amounts due and payable upon maturity on May 19, 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. The Company has determined that the conversion feature in this note is considered to be a derivative. The Company calculated the fair value of this conversion feature using the Black-Scholes model and the following assumptions: Risk-free interest rates of 1.21%; Dividend rate of 0%; and, historical volatility rate of 435.56%.
On June 4, 2017, the Company entered in convertible note agreement with a private and accredited investor, SARJ, LLC., in the amount of $44,000, unsecured, accruing interest at a 12% interest rate, with principal and interest amounts due and payable upon maturity on June 4, 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. The Company has determined that the conversion feature in this note is considered to be a derivative. The Company calculated the fair value of this conversion feature using the Black-Scholes model and the following assumptions: Risk-free interest rates of 1.21%; Dividend rate of 0%; and, historical volatility rate of 435.56%.
On July 16, 2017, the Company entered in convertible note agreement with a private and accredited investor, SARJ, LLC., in the amount of $90,000, unsecured, accruing interest at a 12% interest rate, with principal and interest amounts due and payable upon maturity on July 16, 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. The Company has determined that the conversion feature in this note is considered to be a derivative. The Company calculated the fair value of this conversion feature using the Black-Scholes model and the following assumptions: Risk-free interest rates of 1.21%; Dividend rate of 0%; and, historical volatility rate of 435.56%.
On August 19, 2017, the Company entered in convertible note agreement with a private and accredited investor, Horizon Phoenix Enterprises, LLC., in the amount of $62,000, unsecured, accruing interest at a 12% interest rate, with principal and interest amounts due and payable upon maturity on June 4, 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. The Company has determined that the conversion feature in this note is considered to be a derivative. The Company calculated the fair value of this conversion feature using the Black-Scholes model and the following assumptions: Risk-free interest rates of 1.21%; Dividend rate of 0%; and, historical volatility rate of 435.56%.
the company did file a NT-10k (notification of late filing) on 4/5/18
They now have 15 days from the original due date
-Prior to 2016 the notes could be converted at any time
In 2016 the company started re-wording so the notes could not convert for at least 6 months giving them a chance to repay the loans
problem is, I do not see what they might have done since 10/1/17 until I see the Q4 2017
6 months from Oct 1 is april 1
without quarterlys and 8k's, we are totally in the dark
correction...I believe we are still waiting on Q4 2017
unless I missed something
I stand corrected...thx
dated 3/9/18...2 days ago
CERTIFICATION AND NOTICE OF TERMINATION OF REGISTRATION UNDER SECTION 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR SUSPENSION OF DUTY TO FILE REPORTS UNDER SECTIONS 13 AND 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.
https://backend.otcmarkets.com/otcapi/company/sec-filings/12614806/content/html
The only thing I want to hear is that the company is taking legitimate sales revenue, paying off the loans, and eliminating the toxic convertible notes
this can't be good
15-12B Termination of Registration 3/9/2018
https://research.ameritrade.com/grid/wwws/stocks/secfilings/filing.asp?data=B64ENCeyJEb2N1bWVudEtleSI6IjEzNy0wMDAxNzIxODY4MTgwMDAxNzYtN1FVSFFVQjJVME85VDVWQTlPSEpOTElCSTMiLCJGT1JNQVQiOiJIVE0iLCJGT1JNX1RZUEUiOiIxNS0xMkIiLCJEb2N1bWVudERhdGVfZiI6IjMvOC8yMDE4In0%3d&c_name=invest_VENDOR
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
Come on folks...I posted what was going on here just a week ago...
There is no short selling here...it is convertible note holders
OS went from 250M to 270M in the last 10 days
It seems obvious to me that the company had to raise the OS to give shares to multiple entities holding convertible notes.
When you have multiple entities getting these shares, they are going to trip all over each other to sell thus driving the SP down.
totally legal and you don't have to put up Millions of dollars to short
............................2.50/share collateral......................
The convertible note holders are getting their shares at a 40% discount from the current SP
rinse/repeat
from the latest 10Q
https://research.ameritrade.com/grid/wwws/stocks/secfilings/filing.asp?data=B64ENCeyJEb2N1bWVudEtleSI6IjEzNy0wMDAxNTUyNzgxMTgwMDAxMzEtNUJHSzlNNTEwS1E4MDJPUDlHMkJDTDNHTlMiLCJGT1JNQVQiOiJIVE0iLCJGT1JNX1RZUEUiOiIxMC1RL0EiLCJEb2N1bWVudERhdGVfZiI6IjMvMjgvMjAxOCJ9&c_name=invest_VENDOR
stay tuned for the T Trades
I believe the 50K toilet seats was actually our government using some slick accounting practices with the appropriation committees in congress to fund black ops
There was the run I predicted on Friday...I actually thought it would last more than a hour though
geez...down 7% for the day and down 25% from todays high
you folks do realize that a company selling shares produces "REVENUE"
Of course the company had a record-breaking March...they diluted
It was fun,though, watching the L2 as people scrambled to buy in on the PR
I hope many of you got out with some profit or less of a loss than the open today
IMO
right on Queue...LAFC nowhere to be found until news hit...unbelievable
Not sure i want to hear any good news from ADAC...last PR on 3/21 we were at .063
The owners of these converted shares are going to want a return...ADAC has another run coming IMO
If the convertible notes were cashed in, it would also account for the small increase in OS
Thoughts?
a 40% discount from .035 is a hell of a lot cheaper than a 40% discount from .10
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.
Nice head and shoulders bottom forming on the 5 day chart
as of 2/7/18 ( 7 weeks ago)
When evaluating a company one must take into consideration many factors
AS...Authorized shares...in this case unlimited
OS...Oustanding shares...62,548,333 (as of January 29, 2018 (page 4 below)
Restricted...I cant find any info on this
page 4
explains possible diluted shares if outstanding warrants and options are exercised
https://backend.otcmarkets.com/otcapi/company/financial-report/187087/content
As at November 30, 2017 43,588,333 Common Shares issued and outstanding
25,500,000 Issuable pursuant to outstanding warrants
2,900,000 Issuable pursuant to outstanding options
71,988,333 Fully diluted
As at January 29, 2018 62,538,333 Common Shares issued and outstanding
26,900,000 Issuable pursuant to outstanding warrants
2,500,000 Issuable pursuant to outstanding options
91,938,333 Fully diluted
to all buyers of this stock
you might want to read pages 18-21 to get a better understanding of what the float and OS could be by now
I will not comment...you can draw your own conclusions
https://backend.otcmarkets.com/otcapi/company/financial-report/187086/content
Shorty is getting nervous...hitting the ask to cover...let it go peeps
ask them to hit the ask
I took a few days off...anything new since Friday?
TIA,
Jimstr
We aren't doing anti-virus....they canned that idea and already took the loss on pre-paid royalties in Q2 filing
that won't last much longer...only 8 trading days left to Oct 1...
I expect to see more buying at the ask and a gradual rise in SP as those on the side take their positions again leading up to launch
Will be fun to watch again
IMO
Jimstr
Elijah could take out all the MM's below .044 with one buy
lol
I'm wondering if AON employees are taking positions here
Volume always precedes good news as insiders come in early
Buyers coming in...somebody took out the all or none bid....
I like the buying pressure here...may see .04 today
keep hitting the ask and it will bypass to .035
I'm convinced it is an all or none order
we will soon see if it is a fake wall @ .034
Mark owns both companies...he going to sue himself?