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Be Nice. LOL
Don't give up hope too fast, Jan has over 1 million of his personal money invested with PGUS. Other than that, I would have left a long time ago. Remember about me being here since 2000, countless times I bailed when it was the bleekest only to see the stock RUN like crazy a few weeks later. Like Kenny Rogers say,
" You've got to know when to hold 'em
Know when to fold 'em
Know when to walk away
Know when to run
You never count your money
When you're sittin' at the table
There'll be time enough for countin'
When the dealin's done."
In a nutshell
May 3rd note can convert 180 days which would be November 3rd is actually due November 29th. 110,000
May 10th note for 113,000 180 days Nov. 10th is actually due February 18,2018.
May 15th 46,500 180 days Nov. 15th due Feb. 15th 2018.
The note Feb 21st. 2017 is due November 30th for 103,500
The note March 30th 2017 is due Sept. 22nd 2017. 100,000
JUST BECAUSE THEY CAN CONVERT IN 180 DAYS DOES NOT MEAN THAT THEY WILL CONVERT. The Feb. and March notes did not convert early.
May 10th 180 days is approx. Nov,10
May 15th 180 days is approx. Nov 15
May 3rd 180 days is approx Nov 3
The Series B Preferred Stock shall provide for option of the holder or holders of the Series B Preferred Stock to notify Progreen within the period commencing February 1, 2017 and ending February 15, 2017, of their election to redeem their shares of Series B Preferred Stock at the Stated Value thereof, Progreen to effect payment for shares as to which the redemption is requested by the holder or holders thereof on or prior to August 31, 2017; and
On and after September 1, 2017, the shares of Series B Preferred Stock shall automatically convert into Progreen Common Stock if the market price for the Progreen Common Stock is 150% of the Conversion Price for a period of 20 trading days.
In regards to the series B, as I read this, they had to declare that they wanted to convert by February and the price they wanted to convert. The 150% was if the price was hit after August 31st it would automatically be converted up to 150%. For example they declared .05 then they did not convert, it would automatically convert at .075. This is my interpretation of what I read.
According to the filing the next note for 100,000 is due on September 22,2017.
November 29th 2017 110,000
November 30th 2017 103,500
The others are due in 2018
Correct ME if I am wrong. This is the July 20th note.
So this is the note we paid only half and the other half converted.
In our press release dated May 18, 2017, we stated that we had completed the necessary bridge financing and that our intention was to pay off the issued convertible notes in cash instead of allowing them to convert. We are now pleased to announce a settlement agreement with Luke Hoppel (holder of the first note coming due), for a cash payment in lieu of any conversion. The amount remains the same as stated in the original note, but will now be paid in 3 equal amounts on August 1st, 10th and 20th.
Convertible Note Financings
On September 13, 2016, the Company sold a private investor a 7% convertible promissory note in the principal amount of $105,000, due March 13, 2017.
On January 20, 2017, the Company sold a private investor a 7% convertible promissory note in the principal amount of $105,000, due July 20, 2017, convertible in the event of an event of default.
18
On February 21, 2017, the Company sold to an institutional lender a convertible note in the amount of $103,500, bearing interest at the rate of 12% per annum, and due November 30, 2017.
On March 15, 2017, the Company issued to an institutional lender a $5,000 Original Issue Discount 10% Convertible Debenture in the principal amount of $105,000, due March 15, 2018.
On March 21, 2017, the Company issued a 7% Fixed Convertible Promissory Note in the principal amount of $105,000 due September 21, 2018 to an institutional lender.
On March 30, 2017, the Company issued a 7% Fixed Convertible Promissory Note in the principal amount of $100,000 due September 22, 2017 to an institutional lender.
On April 27, 2017, the Company issued a 10% Fixed Convertible Promissory Note in the principal amount of $113,000 due April 3, 2018 to an institutional lender.
On May 3, 2017, the Company issued a 8% Fixed Convertible Promissory Note in the principal amount of $110,000 due November 29, 2017 to an institutional lender.
On May 15, 2017, the Company issued a 12% Fixed Convertible Promissory Note in the principal amount of $46,500 due February 15, 2018 to an institutional lender.
On May 10, 2017, the Company issued a 12% Fixed Convertible Promissory Note in the principal amount of $113,000 due February 10, 2018 to an institutional lender. Additionally, we issued 2,000,000 warrants pursuant to the terms of the securities purchase agreement with an exercise price of $0.05 per share.
Tiger did you move on? Hope not we will be moving with or without news. Too much accumalation not to move.
If you have watched the two videos, you know where we are headed eventually.
Your Alias was born in 2016 I have been around in and out since 2000. I have learned a lot, made $$$$$$$$$$$$$ and lost $$$$$$$$$ so this is not new, I know I will make money here one way or another. May not be here to build in Mexico but there are many fish in the sea to PLAY. NOT LOVE
I am here for the long haul, whether Jan comes through or not, we are going to move up because the mms have accumalated shares to sell. They will eventually let this run.
Having a good stock, getting in at a good price is all one can count on.
predicting is as bad as charting, sucks too.
something to watch while we wait.
Charting sucks, got me in to this stock way too high in the first place. MM manipulate charts moving averages and the rest. PGUS had the best cup and handle you would ever want to see in February. Just trapped me in waiting to break out, but instead it broke to the downside for no reason.
Going out on a limb here, my chart says that we drop to .007 possible a quick drop lower before we can go higher. I hope I am wrong but thought I should put it out there that WE ARE going higher.
Come on Jan if you can't get a news announcement out, throw us a bone with a tweet.
It will only take one large shareholder to say that he/she has had enough for this to happen.I am hoping for the update.
Most of us have held on to this stock because of our belief in Jan. He has left us in the dark far too long. AND Most of us are down 40 to 50 percent already.
we tank if he does not, so it does matter about belief.
Great, then I guess we are Ok.
Next week is this week and the "updates" haven't happened. What is the hold up? Rhetotical question.
Thank you for your thoughts and prayers. I read this board but rarely post here.
allenc, I sit here 40 miles from Miami reading Ihub as a distraction waiting for IRMA to make land. I moved here from the midwest in December, and I did not want to leave my aging mom, so here I sit. This really puts things in perspective. PGUS lost a young man in the prime of his life by a car accident. He was really important to Jan and probably all involved in PGUS. I understood that on an empathy level but now whether PGUS flies or stands still is not important to me AT THE MOMENT. I think that was the same with Jan and everyone else involved. Once that process is over, I feel we will get back on track. You and Tiger, personally in my opinion have been great for this board. You both are proud owners of PGUS but not afraid to ask the tough questions.
Time for a news update and EPIC RUN we all have been waiting for!!!
Honestly nobody knows anything for sure but Jan. You may THINK you know.
Since we are spitballing ideas, we have at the very least 500,000 in land that we should be able to take out a Loan against to payoff all other debt. This would "buy" us time. Just a thought.
People should do what they feel comfortable doing. I will leave it at that.
Thank you, like some others have stated privately, we will more than likely get an updated when Jan is sure it will do the stock the most good.
As I told a board friend here, I am not bashing or touting. I hope I am saying the truth as I see it. I believe we will run eventually, no matter how low it goes. Right now I have put in as much as I feel comfortable losing if that should be the unlikely outcome. I feel board members who have been here much longer than me might have a personal relationship somewhere that makes them a little more bullish than me. I do'nt like bashers or pie in the sky touters for no reason. Up until now, Jan has given us nothing but good reasons to bring friends and family into this stock, but when they ask me what is happening to their investment, truly I have no answer. I thought maybe we would get an answer by the end of the harvest which has been underway for a month. I am not buying or selling just waiting.
This is what "I" believe, you have to let the mm's have cheap shares in dilution before they let a stock go.
I am not forgetting that Jan has fronted this company loans and has bought more than 23,000,000 divided by.02 460,000 dollars worth of this stock in the open market.
Hopefully we get an update saying that they are paid.
This is not Jans first rodeo, he owned an investment company from my dd, so he KNEW what would happen. Why "he let it happen" is anyone's guess.
You have a Valid concern, anyone who bought into this stock in the past 7 months is probably in the same boat. This stock was suppose to be "different" than the usual garbage penny stocks and possibly it is but losing 50percenr of your value is cause for concern for most people who did not have the fortune of buying into this at sub penny. Yes this might rebound and things might be great but the fact that a 120000 note could do this to a stock that was supposed to be from the company website "revenue flowing" is a major concern for us little people. The company gave them the ammunition to put the fear into new penny players who are afraid to lose all of their money so they turn into "idiots" and give their shares away. Instead of us calling them names we could try to be a little more understanding of the new penny stock people who are just trying to have a way to make extra money. We made this stock sound like a sure thing and nothing is a sure thing.
Reality and the here and now is what I deal with from now on. Potential off the charts, but I will take profits along the way.