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Thursday, July 24, 2014 12:33:53 PM
math can see that debt is getting paid off @ 0.001016 pps...yes 0.001016 & that that debt/accumulated deficit grew by $13,004,774 to $61,908,223 
in just the 1st qtr. In January and February of 2014, Redwood converted a total of $316,213 in principal from the outstanding debt in Redwood Deal #2 into 311,154,640 shares of the Company’s common stock.
@ 0.002130 pps
In March of 2014, Redwood converted $46,860 of accrued interest from the Redwood Deal #2 into 22,000,000 shares of the Company’s common stock.
As of March 31, 2014 and December 31, 2013, the principal balance of the Redwood Deal #2 was $-0- and $316,213, respectively and accrued interest was $4,740 and $11,271, respectively.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10056697
pg. 28
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=103523234
especially when accumulated deficit grew $13,004,774 to $61,908,223 just in the 1st qtr.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10056697
DAMN serious @ 0.001016 p/s & w/ those conversion terms DETRIMENTAL might be a better word as it relates to shareholder value must take a MBA to see
@ 0.001016 p/s...yes 0.001016 In January and February of 2014, Redwood converted a total of $316,213 in principal from the outstanding debt in Redwood Deal #2 into 311,154,640 shares of the Company’s common stock.
@ 0.002130 p/s
In March of 2014, Redwood converted $46,860 of accrued interest from the Redwood Deal #2 into 22,000,000 shares of the Company’s common stock.
As of March 31, 2014 and December 31, 2013, the principal balance of the Redwood Deal #2 was $-0- and $316,213, respectively and accrued interest was $4,740 and $11,271, respectively.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10056697
pg. 28
In October and November 2013, $71,670 of the principal balance of the JMJ Note were converted into 32,500,000 shares of the Company’s common stock.
In January 2014, $7,200 of principal was converted into 7,500,000 shares of the Company’s common stock.
As of March 31, 2014 and December 31, 2013, the principal balance of the JMJ Note was $46,130 and $53,330, respectively and accrued interest was $24,444 and $24,444, respectively.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10056697 pg.27
On March 24, 2014, Ironridge Global sold the TCA Note to Dominion Capital under the security settlement agreement executed between the Company and Dominion Capital, the Company issued a convertible debenture to Dominion Capital in the amount of $746,092. The $746,092 principal balance included the original TCA Note of $500,000, accrued interest and pre-payment penalties of $246,092.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10056697 pg. 25
@ 0.002522 p/s Victor continues to sell his Promissory Notes FACT
On January 1, 2014, the Company issued an $80,000 convertible promissory note to Dr. Steven Victor, the Company’s CEO, to convert $80,000 of accrued salary, and bears simples interest of 12% per annum. On March 26, 2014, the $80,000 convertible promissory note was assigned to Gene Kaslow (the “Kaslow Note”).
On March 19, 2014, the Gene Kaslow converted the full $80,000 of principal into 31,720,856 shares of the Company’s common stock.
As of March 31, 2014, the Kaslow Note had a principal balance of $-0- and accrued interest of $2,400.
that is an average cost per share of 0.002522 Wonder why Victor values his own company @ 0.002522
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10056697 pg. 25
so Obviously having a MBA & CPA certification/credentials must help understand this but I am more than willing to let the investing public decide the FACTS of these Financials...but a MBA/CPA will also present them line by line item by item
TOTAL STOCKHOLDERS' DEFICIT (21,167,614) March 31, 2014 (9,849,067) December 31, 2013
an increase of 11,318,547 in just the 1st qtr
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10056697
WHEN...just in the first qtr...that's WHEN
NET LOSS $ (13,004,773) $ (1,058,459)
an increase of $11,946,314
WHEN...just in the first qtr...that's WHEN
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10056697
a share increase of 124,763,996 in 40 days
Number of shares of common stock issued and outstanding as of June 18, 2014 is 2,355,075,373.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10056697
a share increase of 124,763,996 in 40 days
WHEN...just in 40 days...that's WHEN
Accumulated deficit (61,908,223) March 31, 2014 (48,903,450) December 31, 2013
an increase of $13,004,774 in just the 1st qtr
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10056697
WHEN...just in the 1st qtr...that's...WHEN
a share increase of 124,763,996 in 40 days
Number of shares of common stock issued and outstanding as of June 18, 2014 is 2,355,075,373.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10056697
a share increase of 124,763,996 in 40 days
The number of outstanding shares of the Registrant’s Common Stock, $0.0001 par value, at May 9, 2014 was 2,230,314,377.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9979496
$$SVFC has NO CASH other than the Toxic Convertible Debentures they have been agreeing to
but @ the terms Vic just got it would be even worse FACT & here are some terms FACTS & TERMS
So we now know how the Ironridge note has been resolved & how Oing ruled on the IR Facility Fee issue
As of March 31st Dominion will get to convert $746,092.00 plus $1,088.00 in interest (@7.5%APR). That totals $747,180.00 at that time. The conversion is at 48.5% of the average three lowest trades of the 20 days prior to conversion.
Just for giggles, let’s say they choose to convert today (we’ll forego the additional interest that’s accrued). The lowest three-day trade average in the last 20 trading days is 0.0023 pps (rounded up). 48.5% of that is about 0.0011 pps. So $747,180/ 0.0011 equals 679,254,545 shares due to Dominion for paying off Ironridge.
But that's not all! Keep in mind that Dominion can then immediately turn around and sell these shares at market!
If, keeping with the above scenario, Dominion had decided to sell starting today and continued selling for the next 10 days at, let’s say, an average of 0.0030 (we’re currently at .0038), then they would see a total of 679,254,545 x 0.0030 equaling $2,037,738.00 to pay off Ironridge, excluding the Facility Fee shares coming to Ironridge.
Dominion Capital Debenture
On March 24, 2014, Ironridge Global sold the TCA Note to Dominion Capital under the security settlement agreement executed between the Company and Dominion Capital, and the Company issued a convertible debenture to Dominion Capital in the amount of $746,092 (the “Dominion Debenture”). The $746,092 principal balance included the original TCA Note of $500,000, accrued interest and pre-payment penalties of $246,092.
The Dominion Capital Debenture matures on March 24, 2015 and accrues interest at an annual rate equal to 7.5%. At any time, and at its sole option, Dominion Capital can to convert a portion or all amounts of principal and interest due and outstanding under the Dominion Debenture into shares of common stock at a price equal to 48.5% of the average of the three lowest prices per share of reported trades (not on the same day) of the common stock on the OTC Markets or on the exchange which the common stock is then listed as quoted by Bloomberg, LP during the 20 trading days preceding the conversion date.[/color]
As of March 31, 2014, the Dominion Debenture had a principal balance of $746,092, and accrued interest of $1,088.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10056697
NUTTIN to get excited about!:)
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