Green Parts International Inc (fka GNPT)

[The Pollo]

Major red flags here with GNPT

First CEO raised the A/S to 1 billion behind shareholders backs. He never filed proper SEC forms.

http://nvsos.gov/sosentitysearch/corpActions.aspx?lx8nvq=u3eN39SBXFnjbo0%252fnf%252fVcQ%253d%253d&CorpName=GREEN+PARTS+INTERNATIONAL%2c+INC

Than CEO puts out a press realease saying that all convertible debt is done.

Right after he says conversions are done he releases the Second quarter 10 Q and we find out he took a ton more toxic debt out! The dilution will not be pretty here soon.


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