Primco Management Inc (fka PMCM)

[num1inv]

NOTE 11 - SHORT-TERM CONVERTIBLE DEBT AND DERIVATIVE LIABILITY




Short –term convertible debt at December 31, 2013 represents the following:






Convertible Debt Due:

Original Principal

Reduction through conversion to stock

Balance at December 31, 2013

Unamortized Discount


Asher Enterprises, Inc.

$220,500

$(95,500)

$125,000

$0


Magna Group, Inc./ Hanoever Holdings

222,500

(177,500)

45,000

(34,619)


Redwood Management, LLC

200,000

(200,000)

0

0


Redwood Fund II, LLC

150,000

(30,336)

119,664

(24,401)


WHC Capital, LLC

800,000

(300,000)

500,000

(47,107)


Fourth Street Fund LP

50,000

0

50,000

0


Southridge Partners II, LLC

35,000

0

35,000

(22,336)


Total

$1,678,000

$(802,336)

$874,664

$(128,463)

Page 26


http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9921878

$874,664 - $125,000 (Asher) = $749,664
$749,664 - $482,256 (WHC) = $267,408

http://ih.advfn.com/p.php?pid=nmona&article=62214370

But notice how it was $500,000 on the 10-Q, down to $482,256 (ie. they have been paying off some of the principle.....have they also paid some principle on the other notes?????

Regardless, these 2 notes being paid off equates to 69.4%!!!!!!