Freeze Tag Inc (FRZT)

[Da Capo]

Yeah,, that's a lot of covertibles to plow thru there.
FRZT OUCH!!!! And then there's this fun detail.

Great Reading!!!

The “Holland Family Trust Convertible Note” is convertible into Company common stock at the greater of (i) the Variable Conversion Price and (ii) the Fixed Conversion Price. The “Variable Conversion Price” shall mean 50% multiplied by the Market Price (representing a discount rate of 50%). “Market Price” means the average of the three lowest trading prices for the Company’s common stock during the twenty-five (25) trading-day period ending on the latest complete trading day prior to the date of conversion. “Fixed Conversion Price” shall mean $0.00005.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10305872