CEO recently raised A/S to 1 billion behind investors backs! Than he puts out press release saying all toxic debt is over and than he just takes on a ton more toxic debt! Dilution city here coming soon. By the way he can change the maturity dates on these new notes
Quote:
Twelve month convertible note with 8% stated interest rate, maturity date of April 28, 2016 and shares convert at 60% of market. This is recorded net of debt discount of $4,303.
20,697
Twelve month convertible note with 8% stated interest rate, maturity date of January 30, 2016 and shares convert at 60% of market. This is recorded net of debt discount of $7,764.
27,236
Nine month convertible note with 12% stated interest rate, maturity date of February 22, 2016 and shares convert at 51% of market pricing mechanism. This is recorded net of debt discount of $7,764.
45,610
Agreement with non related investors that allow up to $10,000,000 in financing through convertible notes. This note was twelve month convertible note with 12% stated interest rate, maturity date of April 22, 2016 and shares convert at 60% of market through a pricing formula. This is recorded net of debt discount of $8,051.
41,949