Asberry 22 Holdings Inc (ASHI)

[chasingpennies]

This is my take on it. This looks like a family business to me. Looks like Kyle borrowed about 535,000 from himself and family to get his company started.

In 3 trenches the first being the buyout of his old company Delite Products, Inc., for 185k to be converted in shares at a future date. Next he writes himself or (shady company someone created for him) 2 more promissory notes for 200k and another one for 150k. All 3 notes wrote back to back, Mar 14, Apr 10, May 15. All to the same investor Gotama Capital S.A. Which I can find no information for execpt this:
http://vessta.com/en/1000440767-Gotama-Capital-SA.html Pretty shady to me.

Next lets do some share math. Lets say I have 535k loan that I need to repay. The insiders have
38,000,000,1 share or 55.8%. The outstanding is 68,0,060,001 as of sept.25 2014 stated in the 10-k and A/S is 140 million as of todays date 10-24-2014.

If u take the O/S minus the what the insiders hold that leaves 30,060,000 float. Divide 535k into that and you have a share price .0177. That is if every share was available to convert. So why is the price so low? How can I pay myself back?

Lets try another scenario. Lets say we borrow the entire o/s 68 million and divide that. 535K / 68 million = .00786

Now lets take the A/S and see what the price is. 535K / 140 million = .00382

I know what you thinking how do I know all 3 promissory notes have been converted. I DON'T. But what I do know is that all promissory notes have been issued:

NOTE 10 – CONVERTIBLE NOTES PAYABLE

On March 14, 2014, the Company closed the first of three tranches of a financing transaction pursuant to the terms of the Exchange Agreement.  At the closing, the Company issued a convertible promissory note in the principal amount of $185,000 to Gotama Capital S.A. in exchange for cash proceeds of $185,000.  The note bears interest at a rate of 8% per annum, with interest being payable on May 15th of each year that the note remains outstanding. The principal amount of the note is convertible at any time, in whole or in part, at the Company’s election or the election of the holder into shares of the Company’s common stock at a price equal to the greater of $0.15 or 90% of the average closing prices of the Company’s common stock for the ten trading days immediately preceding the applicable conversion date.  Unless earlier converted or repaid, the principal amount of the note is due and payable on March 14, 2017.  On April 10, 2014, the Company closed the second tranche of the financing contemplated pursuant to the terms of the Exchange Agreement.  At the closing, the Company issued a convertible promissory note in the principal amount of $200,000 to the same investor in exchange for cash proceeds of $200,000.  The note has the same terms as the note described above, except that unless earlier converted or repaid, the principal amount of the note is due and payable on April 10, 2017. On May 15, 2014, the Company closed the third tranche of the financing contemplated pursuant to the terms of the Exchange Agreement.  At the closing, the Company issued a convertible promissory note in the principal amount of $150,000 to the same investor in exchange for cash proceeds of $149,881.  The note has the same terms as the notes described above, except that unless earlier converted or repaid, the principal amount of the note is due and payable on May 15, 2017.  The Company may prepay the principal amount of the notes at any time, in whole or in part, without the prior written consent of the holder.

Won't it make sense to convert all 3 notes when the price is the lowest to get the most shares at the lowest price?

So do I think its some private equity firm is tanking the stock? No. I believe they are shorting there own short for the conversion. None the V's or B's have been on the ask. The only time the stock tanks hard is when NITE is on the ask trying to short it to set the price even lower once he backs off it always drifts back up. Why give the money to private equity firm when you can keep it yourself!

That is why the stock price tanked to make room for the 30+ million converted shares. I am guessing since the notes were issued at different times they all have a 10 days of lowest trading to set the price.

So I believe we have one more note to set a price on or all 3 notes are set in price. That is also why we don't have any news or PR's until that happens.

I am only guessing but that is probably why the last CEO resigned after hearing what was going to happened.

Also what stinky pinkie comes up with a Code of Ethical Conduct when the stock is trading close to its 52-week low. Unless your worry about your future conduct, LOL.