This is disastrous for any stock, even for_a_pink. News pop was a dud. Now it will be awhile before the next news. Each movement gets less and less. Thats what 11 Billion shares does. Go look at their financials. BIEL estimates a 20 Billion plus share count to pay off IBEX for the next 12 months. And they pay interest monthly, so dont ever expect the massive dilution to ever stop. 20 Billion was off the 8 Billion A/S. Thats now much higher.
IBEX, LLC is a limited liability company, whose President is the daughter of the President of the Company
IBEX Revolver
Notes were converted into 1,396,694,318 shares in 2014
IBEX Promissory Convertible Notes Payable
Due to the drop in stock prices since the original note issuances, the corresponding shares to be issued on the conversion of these IBEX notes has increased to 12,236,810,120 at June 30, 2015.
The balance on these notes as of June 30, 2015 is $5,439,361.
Other Related Party Loans
The Company has entered into convertible promissory note agreements with various other related parties of the Company. Other related parties consist of family members of the President of the Company. Additionally, St. Johns, LLC is a limited liability company, which is owned by a family member of the President of the Company.
The balances on these other related party loans amounted to $2,880,359 at June 30, 2015 Due to the new loans and the drop in stock prices, the corresponding shares to be issued on the conversion of these other related party loans has increased to 7,178,011,959 at June 30, 2015.
Based on aforementioned information, the number of outstanding shares will eventually have to cover these amounts, totalling 8.319.720 $ which ultimately (at today’s shareprices) will need a total of 12.000.000.000 (12 billions) additional shares to be issued (on top of today’s 8 billion shares). According to the unaudited financial statement of the company the total of additional shares to be issued, adds up to (see above) 20.000.000.000 shares, not counting an extra 1.000.000.000 for share-based employee and/or compensation or stock for non-cash consideration i.e. for services rendered by consultants and vendors.
Now 12 Billion more shares, will more than double today 11 Billion. 23 Billion shares this next 12 months, is insane.
AI
