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Tuesday, June 10, 2014 12:42:07 PM
Touche' Yall mean for me to do it on my own. -_-
Can you help me understand the follow isenterprises or anyone..?
Its so much work, but here is my attempt, lol
As per 10k:
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9799250
Convertible promissory note, dated June 13, 2013, original face value of: $33,000, maturing June 13, 2014, 12.0% interest.
Conversion price shall be equal to 60% (40% discount) of the lowest trading price of any day during the 25 consecutive trading days prior to the date on which Holder elects to convert all or part of the note.
JMJ Financial
On May 24, 2013, we also issued four $75,000 6% Convertible Redeemable Secured Notes (the “Back-End Notes”; together with the Initial GEL Note, the “GEL Notes”), each in exchange for a $75,000 Secured Promissory Note issued by GEL to us and secured by the $75,000 cash value interest in a life insurance policy assigned to GEL by its member, or other collateral with an equivalent or greater cash value. The four GEL Notes have a maturity date of January 24, March 24, May 24 and July 24, 2014, respectively. The GEL Notes are due and payable on May 24, 2015, with interest payable in shares of our common stock.
GEL Properties, LLC
Convertible promissory note, dated August 1, 2013, original face value of: $166,000, maturing August 1, 2014, 12% interest. Conversion Price” shall be equal to sixty percent (60%) of the lowest trading price of any day during the 10 consecutive trading days prior to the date of conversion. WHC Capital
2015:
Convertible promissory note, dated June 21, 2013, original face value of: $33,000, maturing March 21, 2015, 8.0% interest.
Conversion price shall be equal to 105% of the average daily closing bid prices for 15 trading days.
Typenex Co-Investment, LLC
Convertible promissory note, dated May 24, 2013, original face value of: $50,000, maturing May 21, 2015, 6.0% interest.
Conversion price shall be equal to 70% (30% discount) of the lowest trading price of any day during the 10 consecutive trading days prior to the date on which Holder elects to convert all or part of the note.
GEL Properties, LLC
we issued a $55,000 convertible note (the “LG Note”) to LG with an original issue discount of 10% covering $5,000 in LG’s due diligence and legal fees in connection with the LG Note. The LG Note is due and payable on October 2, 2015.
at a conversion price equal to 60% of the lowest trading price of our common stock as reported on the OTC for any of the ten trading days prior to and including the date upon which notice of conversion is received.
LG CAPITAL FUNDING, LLC
Jun 13, 2014 - $33,000 JMJ
Jul 24, 2014 - $75,000 GEL
Aug 01, 2014 - $166,000 WHC (maybe, see WAY below)
Mar 21, 2015 - $33,000 Typenex
May 21, 2015 - $50,000 Gel
Oct 12, 2015 - $55,000 LC
But according to the 8-K's It looks like they paid a bit early on some on them? Or were those ones old ones?
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9978934
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10013562
On May 5, 2014, we issued 41,699,956 shares of common stock to WHC Capital, LLC to convert $16,054.48 in partial principal and interest due under a 12% Secured Convertible Debenture filed Exhibit 4.6 to our Annual Report on Form 10-K filed with the SEC on December 5, 2013. The issuance was made pursuant to an April 8, 2014 notice of conversion.
On May 5, 2014, we issued 61,512,742 shares of common stock to Typenex Co-Investment, LLC to convert $38,137.90 in partial principal and interest due under a Secured Convertible Promissory Note filed as Exhibit 99.2 to our Current Report on Form 8-K filed with the SEC on January 27, 2014. The issuance was made pursuant to an April 22, 2014 notice of conversion
On May 15, 2014, we issued 7,0166,666 shares of common stock to LG Capital Funding LLC to convert $10,525 in partial principal and interest due under a 9% Convertible Redeemable note dated October 2, 2013 in substantially the form filed as Exhibit 4.8 to our Annual Report on Form 10-K filed with the SEC on December 5, 2013. The issuance was made pursuant to an April 29, 2014 notice of conversion.
On May 16, 2014, we issued 45,580,229 shares of common stock to Typenex Co-Investment, LLC to convert $28,259.74 in partial principal and interest due under a Secured Convertible Promissory Note filed as Exhibit 99.2 to our Current Report on Form 8-K filed with the SEC on January 27, 2014. The issuance was made pursuant to a May 13, 2014 notice of conversion.
Jun 13, 2014 - $33,000 JMJ
Jul 24, 2014 - $75,000 GEL
Aug 01, 2014 - $166,000-$16,054.48 WHC (maybe, see WAY below)
Mar 21, 2015 - $33,000-$38,137.90-$28,259.74 Typenex
May 21, 2015 - $50,000 Gel
Oct 12, 2015 - $55,000-$10,525 LG
Although I am not certain on the WHC Convertable based on this:
ITEM 2.04 - TRIGGERING EVENTS THAT ACCELERATE OR INCREASE A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT
Under the 12% Secured Convertible Debenture (the "Debenture") we issued to WHC Capital, LLC ("WHC") on August 1, 2013 (must be the 166,000), as disclosed in our Current Report on Form 8-K filed on August 19, 2013, we were required to register 300% of the principal amount of the shares into which the Debenture may be converted. Because such registration was not declared effective by the Securities and Exchange Commission by December 9, 2013, the principal amount of the Debenture has increased by 140% to $232,400.
WHC has notified us of its intention to sell the 35,000,000 shares of common stock (the "Pledged Shares") pledged by Benny R. Powell, our Chief Executive Officer, President, Chief Financial Officer, and Secretary, and a member of our Board of Directors under the Pledge and Security Agreement with WHC and Mr. Powell, to cover payment of the $232,400 plus interest.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9660216
Does this mean we no longer owe the $166,000?
Can you help me understand the follow isenterprises or anyone..?
Its so much work, but here is my attempt, lol
As per 10k:
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9799250
Convertible promissory note, dated June 13, 2013, original face value of: $33,000, maturing June 13, 2014, 12.0% interest.
Conversion price shall be equal to 60% (40% discount) of the lowest trading price of any day during the 25 consecutive trading days prior to the date on which Holder elects to convert all or part of the note.
JMJ Financial
On May 24, 2013, we also issued four $75,000 6% Convertible Redeemable Secured Notes (the “Back-End Notes”; together with the Initial GEL Note, the “GEL Notes”), each in exchange for a $75,000 Secured Promissory Note issued by GEL to us and secured by the $75,000 cash value interest in a life insurance policy assigned to GEL by its member, or other collateral with an equivalent or greater cash value. The four GEL Notes have a maturity date of January 24, March 24, May 24 and July 24, 2014, respectively. The GEL Notes are due and payable on May 24, 2015, with interest payable in shares of our common stock.
GEL Properties, LLC
Convertible promissory note, dated August 1, 2013, original face value of: $166,000, maturing August 1, 2014, 12% interest. Conversion Price” shall be equal to sixty percent (60%) of the lowest trading price of any day during the 10 consecutive trading days prior to the date of conversion. WHC Capital
2015:
Convertible promissory note, dated June 21, 2013, original face value of: $33,000, maturing March 21, 2015, 8.0% interest.
Conversion price shall be equal to 105% of the average daily closing bid prices for 15 trading days.
Typenex Co-Investment, LLC
Convertible promissory note, dated May 24, 2013, original face value of: $50,000, maturing May 21, 2015, 6.0% interest.
Conversion price shall be equal to 70% (30% discount) of the lowest trading price of any day during the 10 consecutive trading days prior to the date on which Holder elects to convert all or part of the note.
GEL Properties, LLC
we issued a $55,000 convertible note (the “LG Note”) to LG with an original issue discount of 10% covering $5,000 in LG’s due diligence and legal fees in connection with the LG Note. The LG Note is due and payable on October 2, 2015.
at a conversion price equal to 60% of the lowest trading price of our common stock as reported on the OTC for any of the ten trading days prior to and including the date upon which notice of conversion is received.
LG CAPITAL FUNDING, LLC
Jun 13, 2014 - $33,000 JMJ
Jul 24, 2014 - $75,000 GEL
Aug 01, 2014 - $166,000 WHC (maybe, see WAY below)
Mar 21, 2015 - $33,000 Typenex
May 21, 2015 - $50,000 Gel
Oct 12, 2015 - $55,000 LC
But according to the 8-K's It looks like they paid a bit early on some on them? Or were those ones old ones?
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9978934
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10013562
On May 5, 2014, we issued 41,699,956 shares of common stock to WHC Capital, LLC to convert $16,054.48 in partial principal and interest due under a 12% Secured Convertible Debenture filed Exhibit 4.6 to our Annual Report on Form 10-K filed with the SEC on December 5, 2013. The issuance was made pursuant to an April 8, 2014 notice of conversion.
On May 5, 2014, we issued 61,512,742 shares of common stock to Typenex Co-Investment, LLC to convert $38,137.90 in partial principal and interest due under a Secured Convertible Promissory Note filed as Exhibit 99.2 to our Current Report on Form 8-K filed with the SEC on January 27, 2014. The issuance was made pursuant to an April 22, 2014 notice of conversion
On May 15, 2014, we issued 7,0166,666 shares of common stock to LG Capital Funding LLC to convert $10,525 in partial principal and interest due under a 9% Convertible Redeemable note dated October 2, 2013 in substantially the form filed as Exhibit 4.8 to our Annual Report on Form 10-K filed with the SEC on December 5, 2013. The issuance was made pursuant to an April 29, 2014 notice of conversion.
On May 16, 2014, we issued 45,580,229 shares of common stock to Typenex Co-Investment, LLC to convert $28,259.74 in partial principal and interest due under a Secured Convertible Promissory Note filed as Exhibit 99.2 to our Current Report on Form 8-K filed with the SEC on January 27, 2014. The issuance was made pursuant to a May 13, 2014 notice of conversion.
Jun 13, 2014 - $33,000 JMJ
Jul 24, 2014 - $75,000 GEL
Aug 01, 2014 - $166,000-$16,054.48 WHC (maybe, see WAY below)
Mar 21, 2015 - $33,000-$38,137.90-$28,259.74 Typenex
May 21, 2015 - $50,000 Gel
Oct 12, 2015 - $55,000-$10,525 LG
Although I am not certain on the WHC Convertable based on this:
ITEM 2.04 - TRIGGERING EVENTS THAT ACCELERATE OR INCREASE A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT
Under the 12% Secured Convertible Debenture (the "Debenture") we issued to WHC Capital, LLC ("WHC") on August 1, 2013 (must be the 166,000), as disclosed in our Current Report on Form 8-K filed on August 19, 2013, we were required to register 300% of the principal amount of the shares into which the Debenture may be converted. Because such registration was not declared effective by the Securities and Exchange Commission by December 9, 2013, the principal amount of the Debenture has increased by 140% to $232,400.
WHC has notified us of its intention to sell the 35,000,000 shares of common stock (the "Pledged Shares") pledged by Benny R. Powell, our Chief Executive Officer, President, Chief Financial Officer, and Secretary, and a member of our Board of Directors under the Pledge and Security Agreement with WHC and Mr. Powell, to cover payment of the $232,400 plus interest.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9660216
Does this mean we no longer owe the $166,000?
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