Seaniemac International Ltd (fka BETS)

[ImOnABoat]

Convertible Debt Summary Below **MUST READ**


As of the last filing the outstanding notes were:

Iliad: $253,140

Redwood: $79,096 - PAID OFF WITH CASH FROM OPERATIONS AS PER LAST PR

LG: $41,995 + $37,386

WHC: $33,883

Summit: $60,589 - NOT CONVERTING PER LAST PR - FRIENDLY LONG-TERM $BETS INVESTOR


So, in summary, the amount that had to be converted to date was $51,239 that Redwood converted before being paid off in cash + $41,995 and $37,386 for LG + $33,883 for WHC + $112,500 which is Iliad for three months Jan, Feb, March (They are limited at $37,500 per month). In total: $277,003 is the amount THAT EXTINGUISHES ALL CONVERTIBLE DEBT up until the end of March.

Since the beginning of conversions on Jan 1st 2015 following the filings by $BETS that were holding back the lenders, approximately 375M shares were issued. Verify this yourself with the T/A - they are not gagged, the company is not hiding anything.

Dividing $277,003 by 375M we get about $0.0007 price - and, yes, the lowest conversion price was 0.0006 for some time now, but in reality a lot of shares were issued way before $BETS hit the low of 0.0012, and so $0.0007 would correspond to that upward adjustment of average.

So, it is safe to say that the number of shares issued to date WAS MORE THAN SUFFICIENT TO COVER AND EXTINGUISH ALL OF THE CONVERSIONS TO DATE. THE CONVERSIONS ARE OVER. DILUTION IS OVER. Yes, there will be $37.5K more due to Iliad on 1st of April - but since the company started paying off their convertibles with cash from operations now, I have no doubt that the remaining balance of Iliad will be paid off before they convert again in April. And there is NOTHING DUE UNTIL APRIL. ZERO LEFT TO CONVERT.

As of today, DILUTION IS OVER. All the CURRENT debt is PAID! And this created an amazing opportunity for folks to buy this growing and revenue-producing company at only 800K market cap! 800K market cap for a company with $1M annual gross profit and $10.7M dollars in turnover revenue in 2014! THIS IS A SALE! Don't miss it! There will be no more toxic debt as the company has just secured $5MM non-toxic financing with S-1 filing for it due at any day now!

Read more $BETS DD below:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=111603441