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The m/o here is drop back to .01 and test new lows. We will see if that happens again
What happened to the blast off??....
VNDM was at .02 at open and that meant nothing then, means nothing now
Guess the best we can hope for is the debt holder brought it down for an epic bounce back up. Now we have to wait to see if company plays along and turns on the news faucet. NVIC
NVIC was sending money to Nviro Limited:
"In October 2016, the Company advanced $20,000 cash to N-Viro Energy Limited (“Ltd”), a related party, for expenses in connection with its China project, further modifying its Note Receivable with Ltd, to a total principal due the Company of $140,000. No other terms of the Note Receivable were changed, and the Note Receivable is in default as of the date of this filing. It is anticpated the entire balance of principal and related accrued interest receivable will be fully reserved as of the end of the fiscal year, as collectability is deemed doubtful. More details are included in Note 2 Notes Receivable"
Now Nviro Limited sanged names but for what reason
A whole lot of debt coming up based on last Q they submitted, not enough shares available in A/S to convert them all. Maybe they are getting ready to pump it up Edit: These are just the notes taken within the last 12 months
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11700649
In April 2016, the Company entered into an agreement with Tangiers Global, LLC (“Tangiers Global”), to issue a 10% Convertible Promissory Note (“Tangiers Global Note”) to the Company for $110,000 in cash, less $10,000 in original issue discount retained by Tangiers Global. The Tangiers Global Note was for a term of one (1) year, an interest rate of zero percent if prepaid within the first 90 days, with a graduated prepayment penalty every 30 days, up until 180 days from the April 2016 effective date. At any time Tangiers Global could elect to convert all or part of the debt into restricted shares of the Company‘s common stock for a price equaling the lesser of $0.60 or a 40% discount to the lowest trading price during the previous twenty (20) trading days to the date of the conversion notice. The Company was also required to reserve 1,400,000 authorized but unissued shares of its common stock, per an irrevocable Letter of Instructions to the Company’s transfer agent. The transaction was exempt from the registration requirements under the Securities Act pursuant to section 4(2) as a transaction by an issuer not involving a public offering. The conversion feature of the Tangiers Global Note was determined to be a beneficial conversion feature, and was recorded as a debt discount at a fair value of $73,000 and subsequently amortized to interest expense ratably over the term outstanding. As a result of the June 2016 convertible note issued to JMJ Financial, explained later in this Note 3, the Tangiers Global Note was retired in late June 2016 for a total payment of $121,000, including a $11,000 early prepayment premium.
In June 2016, the Company entered into a second agreement with JMJ Financial (“JMJ”), to issue a convertible promissory note to JMJ (“JMJ Note #2”) in the principal amount of $585,000 in cash, less $60,000 in original issue discount retained by JMJ, less $31,500 in debt issuance costs paid to Craft Capital Management LLC. Craft also received 21,000 stock warrants, valued at $19,900, to purchase unregistered common stock of the Company at a purchase price of $1.00 per share. The JMJ Note #2 is due and payable on June 13, 2017 and is convertible at the lesser of $0.90 or 75% of the lowest trade price in the 25 trading days previous to the conversion date. The JMJ Note #2 is convertible at the sole
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option of JMJ. The Company has the right to repay up to 98% of the JMJ Note #2 after the effective date in an amount equal to 120% of the sum of the principal sum being repaid plus all accrued and unpaid interest, original issue discount, liquidated damages, fees and other amounts due on such principal sum or, alternatively, at any time on or before 180 days after the issuance date of the JMJ Note #2 to pay an amount equal to 140% of the sum of the principal sum being repaid, plus all accrued and unpaid interest, original issue discount, liquidated damages, fees and other amounts due of such principal sum. After 180 days after the issuance date of the JMJ Note #2, the Company may not prepay the note prior to the maturity date without the approval of JMJ. JMJ has the right in its sole discretion to require the Company to repurchase the JMJ Note #2 from JMJ at any time after the issuance date in an amount equal to 125% of the sum of the principal sum plus all accrued and unpaid interest, original issue discount, liquidated damages, fees and other amounts due on such principal sum. The Company was required to reserve 8,000,000 shares of common stock for potential conversion of the JMJ Note #2. The Company also agreed to file an S-1 Registration Statement (“S-1”) to register the resale of the shares of common stock issuable upon conversion of the JMJ Note #2 as well as the resale of 455,000 warrants issued to JMJ in connection with this transaction. The S-1 is required to include 5,000,000 shares of common stock for potential resale of the securities issuable upon conversion of the JMJ Note #2 and exercise of the warrants. The Registration Rights Agreement, as amended, provides for a $50,000 penalty in the event the S-1 is not filed with the SEC on or before August 1, 2016 and a $25,000 penalty if the S-1 is not declared effective by October 31, 2016. Exemption from registration is claimed under Section 4(2) of the Securities Act as transaction by an issuer not involving a public offering. The Company filed the S-1 on July 25, 2016, thus avoiding the $50,000 penalty, and filed Amendment No. 1 to the Form S-1 on October 24, 2016, and as of the date of this filing the S-1 has not yet been declared effective, however, JMJ has yet to contact the Company on enforcing the $25,000 penalty as of the date of this filing. The conversion feature and attached warrants of the JMJ Note #2 were valued and determined to be beneficial. The fair value of the beneficial conversion feature and warrants were recorded as a debt discount at their relative fair values totalling $473,600. This debt discount is being amortized to interest expense ratably over the one year note term. The total amount owed on the JMJ Note #2 is $585,000 and the gross discount is $411,125, including an original issue discount of $113,304 and net debt issuance costs of $36,123, as of September 30, 2016. The carrying amount on the JMJ Note #2 was $173,875 as of September 30, 2016, and is classified as short-term debt on the balance sheet.
As of September 30, 2016, both of the outstanding convertible notes to JMJ Financial (collectively, “the JMJ Notes”) have no floor price but provide that unless otherwise agreed to in writing by the Company and JMJ, at no time will JMJ convert any amount of the JMJ Notes into common stock that would result in the investor owning more than 4.99% of the Company’s outstanding common stock. In October 2016, the Company filed Amendment No. 1 to Form S-1 Registration Statement to register 2,000,000 shares of common stock for resale, which includes 455,000 shares issuable upon exercise of warrants and up to 1,545,000 shares of common stock issuable upon conversion of the JMJ Notes in the aggregate principal amount of $685,000. As of the filing date of this Form 10-Q, said Registration Statement has not been declared effective by the Securities and Exchange Commission.
In September 2016 the Company approved an offering of up to $250,000 of Convertible Debentures (the “2016 Debentures”), convertible at any time into shares of the Company’s unregistered common stock at $0.30 per share. The 2016 Debentures were issuable in $10,000 denominations, are unsecured, have a stated interest rate of 12%, are payable monthly to holders of record and include stock warrants for 50% of the amount of debt, the warrants convertible at a price of $0.60 per share. The conversion feature and attached warrants of the 2016 Debentures were valued and determined to be beneficial. The fair value of the beneficial conversion feature and warrants were recorded as a debt discount at their relative fair values totalling $13,500 as of September 30, 2016, for the total of $100,000 received on that date from Michael Thompson. This debt discount will be amortized to interest expense ratably over the one year note term. The total amount owed on the 2016 Debentures is $100,000 and the gross discount is $13,500 as of September 30, 2016. The carrying amount on the 2016 Debentures was $86,500 as of September 30, 2016, and is classified as short-term debt on the balance sheet. An additional $110,000 was issued in October 2016. The Company timely made the interest payments due on October 31, 2016.
An r/m with this SS would go crazy but the fact is we dont know what the company is up to. Delinquent as of now without even an NT filing to say they would be late. Worth lotto money only IMO until clarification is provided. NVIC
I would suggest others do the same. Flood them with questions/comments since that is only way to contact them
I had left questions/comment on LinkedIn post you posted from March
A big fat nothing, empty shell with debt. Best case would be r/m worst case bankruptcy
Name change happened in January. They should have already pr d something. Based on no phone number or website, looking suspect
Idk why, maybe they sold it off? Or just getting fresh name for new scam?
Everybody needs to leave a comment in that LinkedIn post, only way to get their attention with no phone of website
That other company has been open for years. I will scour the last q later
Maybe NVIC is moving over there and this is just a shell now? If there was an r/m with this ss it would go nuts
Deleware SOS would know but you have to pay to see
Not if everybody just sits on the bid again
Most of them were soaked up around .01 I think, we are just churning throu 01 profit takers IMO
Shhh I am trying to piss people off to slap us back up...;)
I like the play by play
Been hearing that all day and it keeps dropping. If noone wants to buy on ask the price will always keep going down. No catalyst here besides SS to keep momentum
Nobody is buying on ask, under .02 is coming
No ask slaps and this will be under .02 soon
as it is dropping right now
I meant lock up the a/s as in no more shares available for conversion rights by debtholders. NVIC
I agree strong move especially if debt gets restructured. Thank you for being respectful. NVIC
I am just saying when SS is locked they have to do something for conversions. That is reason it has to run before they decide what to do. NVIC
Company can always raise a/s or r/s like all OTC's, need to run it before they do so. They have more notes and will need the room
This POS sure turned around quick, subs coming soon?
Bids around .03 keep getting refilled, keep soaking them up! NVIC NVIC NVIC NVIC
Need bids in to suck them up. If spread doesn't tighten flippers will have their way. NVIC
This turd going to see alot lower. Looking for .012 soon
BLLB red to green to red, looks like run is over
Why hasn't valuation been released if it is complete? A lot of smoke and mirrors here by the looks of it
It wasn't a fluke. This ticker might be in pennies by EOW
No joke. Last r/s it went from dollars to .002 before D came off yet people thought this time was different? Only play here is bounce once noteholders drop it way down, just like last time
Blue sky breakout, hasnt seen these levels in years
That is what I am looking for! Quick super bounce and then back down
If you look at last r/s they dumped it from dollars to sub penny before the d came off. I am looking to buy sub penny for a bounce
10 bags in 2 sessions! More like 1 and half!