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jjphillips

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jjphillips

Re: marexx post# 63052

Thursday, 01/15/2015 12:58:14 AM

Thursday, January 15, 2015 12:58:14 AM

Post# of 72908
Hi marexx,

The problem they have run into, it seems, is that they do not have enough shares authorized to fulfill these notes.

1,500,000,000 A/S
1,244,459,836 O/S

That leaves 255,540,164 shares remaining. At 0.0005 cents and discount of 40%, the most they can fulfill with these shares is:

255,540,164 x 0.0005 x 0.6 = $76,662

Hence the emergency meeting (still not scheduled!) to try and increase the A/S to 5B.
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